Does market exposure shape civic values and rules that constrain opportunistic behavior and foster generalized cooperation? I investigate this question using a natural experiment on market location from Ethiopia, where exchange is prone to cooperation problems from asymmetric information and...

This paper studies repeated trade with noisy information about previous transactions. A buyer has private information about his willingness to pay, which is either low or high, and buys goods from different sellers over time. Each seller observes a noisy history of signals about the buyer's...