When evaluating the economic efficiency of policies to reduce nonpoint source pollution, administrative or transaction costs are usually not taken into account. While the importance of transaction costs has been recognized in the theoretical literature, the fact that they are not incorporated in...

This research study uses a qualitative approach to examine the implementation of the ‘Five Million Hectare Reforestation Program’ (the 5MHRP) in Vietnam, and to explore the underlying reasons for local people’s participation in the program. The study also uses a transactional...

Carbon mitigation through land-use change and forestry has received considerable attention as a low-cost method of addressing climate change. However, spatial and productive heterogeneity is often lost in broader scale analyses frequently used to inform climate mitigation policy. Most research...

We examine the effect of direct mail (commonly referred to as junk mail) advertising on individual financial decisions by studying consumer choice of home equity debt contracts. Consistent with the theoretical predictions, we find that financial variables underlying the relative pricing of debt...

Much of the extensive empirical literature on insurance markets hasfocused on whether adverse selection can be detected. Once detected, however, therehas been little attempt to quantify its welfare cost, or to assess whether and whatpotential government interventions may reduce these costs. To...

Though sharecropping remains widespread, its determinants are still poorly understood and the debate over the extent of risk-sharing and moral hazard is far from settled. Moreover, existing empirical study very often plague by selection problem. We address both issues using data from rural...

In the last decades global food value chains have seen the need for increasing vertical coordination in order to secure quality standards. A prominent way to govern the relationships between farmers and agri-business firms are farming contracts. We study the role of trust, risk and time...

In this paper, we consider the problem of choosing a set of multi-party contracts, where each coalition of agents has a non-empty finite set of feasible contracts to choose from. We call such problems, contract choice problems. The main result of this paper states that every contract choice...

Do employees work harder if their job has the right mission? In a laboratory labor market experiment, we test whether subjects provide higher effort if they can choose the mission of their job. We observe that subjects do not provide higher effort than in a control treatment. Surprised by this...

Firms increasingly look outside their organizational boundaries to identify partners that can improve the effectiveness of R&D projects. The strategy for using partners, however, varies significantly across projects. In some, partners are used primarily to lower development costs and/or...