This book introduces the research agenda of relational economics as a political economy for the governance of local and global economic transactions in modern societies. It analyses the mechanisms of global value creation and production networks by studying cooperation in intra- and inter-firm...

pt. 1. Conceptual frameworks -- pt. 2. Land markets, allocative efficiency, and poverty : who has access to land? -- pt. 3. Contract choice, poverty, and efficiency of land use -- pt. 4. Land markets, land tenure, and land management.

Motivated by the recent National Association of Realtors (NAR) settlement, this note examines the effects of reduced real estate agent commissions on home prices, housing turnover, and consumer welfare. Using a calibrated dynamic structural search model of the housing market, we explore how...