The transition from plan to market provides a rare opportunity for insight into the endogenous development of economic institutions. Economic activities during the Soviet regime were coordinated by a central authority. These coordinating mechanisms were disrupted during the transition period,...

The transition from plan to market provides a rare opportunity for insight into the endogenous development of economic institutions. Economic activities during the Soviet regime were co-ordinated by a central authority. These co-ordinating mechanisms were disrupted during the transition period,...

We delineate the various ways in which rights to environmental and other resources can be assigned to individuals or groups. We then examine models of individual and group interactions, drawing out their implications for the ways in which resources will be utilized and managed under various...

We develop a formula for the optimal size of a joint savings association between individuals who share the same financial goal and who can save towards that goal at the same rate. Our motivating example and the core of our analysis is a Rotating Savings and Credit Association (ROSCA). We measure...

We develop a formula for the optimal size of a joint savings association between individuals who share the same financial goal and who can save towards that goal at the same rate. Our motivating example and the core of our analysis is a Rotating Savings and Credit Association (ROSCA). We measure...

We develop a formula for the optimal size of a joint savings association between individuals who share the same financial goal and who can save towards that goal at the same rate. Our motivating example and the core of our analysis is a Rotating Savings and Credit Association (ROSCA). We measure...

We develop a formula for the optimal size of a joint savings association between individuals who share the same financial goal and who can save towards that goal at the same rate. Our motivating example and the core of our analysis is a Rotating Savings and Credit Association (ROSCA). We measure...

In this work we shall attempt an excursus across fundamentally different streams of modern interpretations of the "primitive entities" constituting the social fabrics of economic systems. Behind each specific interpretative story, there is a set of ceteris paribus assumptions and also some...