Researchers and policymakers have long understood the benefits of crop insurance but have been consistently disappointed by the poor performance of these programs. Rarely have programs seen sizeable take-up rates without support through large government subsidies, and in many countries, demand...

On May 21st, one of the most cited economists of all time and a key contributor to organizational studies, Professor Oliver E. Williamson passed away. Despite being ubiquitous across economics, management, law and social sciences, he remains underappreciated in mainstream development and policy...

In developing countries, industries are often plagued with power shortages. In response, some firms make their own electric power but most of the others do not. Why do we observe such divergent behavior in the decision to self-generate? Previous literature focuses on factor demand and marginal...

Feed importers in some EU member states face constraints on imports of genetically modified (GM) soy, a practice that may compromise the interests of EU livestock farmers. Using the cases of Sweden and Austria, we analyzed price transmission in the soy supply chain originating from Brazil,...

After two decades of attempts to deregulate the Indian power sector and bring in more competition, the question we are asking is: why has private investment not flooded in as expected? We analyze the problem using an economics of governance framework which suggests that various organizational...

This paper tests the impact of institutional quality on the performance of thermal power sector in India. We estimate a translog inefficiency effects stochastic frontier model using plant age, plant capacity and an index of regulatory governance as determinants of inefficiency. The dataset...

The 2003 Indian Electricity Act incentivizes captive power production through open access in an attempt to harness all sources of generation. Yet, we observe that only some firms self-generate while others do not. In this paper we give a transaction cost explanation for such divergent behavior....