I analyze how ownership can be structured to minimize the haggling costs due to contractual incompleteness. I model haggling as a contest in which integration gives the integrating party a relative advantage over the integrated party. In a one-period model, this implies that the contest will...

Resumen: Este artículo propone una del conflicto armado a partir de un diseño evolutivo que tenga en cuenta el concepto de agencias de protección privada en las obras de Schelling / Nozick / Gambetta. Su objetivo es evaluar la dinámica del conflicto y los cambios de la producción...

The globalization process stimulates more and more start-ups entering international markets at their earliest convenience. Supported by modern IT and logistics systems, this option is available for many ventures that become more and more independent from their country of origin. For...

Síntesis Salaverry es un pequeño puerto localizado a pocos kilómetros de la ciudad de Trujillo, al norte del Perú. Moviliza alrededor de 2.5 millones de toneladas de carga al año, en su mayoría, granel seco. Desde 1982, ENAPU, la empresa estatal que opera el puerto, ha venido reduciendo...

Social institutions were often founded by the elite to avoid social upheavals. Institutions helped mitigate the threat of violent social responses to labor-saving innovations. But their organizational forms were influenced by preexisting cultural and social factors. The differences in Chinese...

This paper views the organization as an open political system. The way that organizations are structured makes inevitable the creation of sectional interests and differentiates the understanding of organizational goals. Decision-making is viewed as a power game between competing interest groups...

This paper develops a simple model to show how social insurance affects the desire to revolt against property rights. It then tests for the effect of social insurance on revolt by introducing a panel data set derived from surveys across 200,000 randomly sampled individuals from the 1970s to the...

Although property rights are the cornerstone of capitalist economics, throughout history existing claims have been frequently overturned and redefined by revolution. A fundamental question for economists is what makes revolutions more likely to occur. A large literature has found contradictory...

The aim of this paper is to contribute to the analysis of nested governance of common-pool resources from a long-term perspective. Our main research questions are: How was nesting articulated in pre-industrial societies? Which were their advantages and risks? Which are the factors that explain...

Persistent budget deficits are commonly blamed on irresponsible governments. However, even if the government is fiscally responsible, the agents in charge of implementing the budget may be less concerned about fiscal discipline. According to the survey data analyzed in this paper, such conflicts...