Data from three bargaining games-the Dictator Game, the Ultimatum Game, and the Third-Party Punishment Game-played in 15 societies are presented. The societies range from USundergraduates to Amazonian, Arctic, and African hunter-gatherers. Behaviour within the games varies markedly across...

Colombia´s oil history began in 1918 and reached its golden era at the end of the 1980s. Regulation in the oil industry changed several times since 1974, mainly responding to the discoveries made. Although agreed contract terms have been honored for oil fields allocated in the past, regulation...

This paper presents a model demonstrating how trust affects the volume of trade in a society. There are two ways in which this happens. First, at minimum, societies need a certain level of trust in order to observe trading activity. Second, once this minimum condition is satisfied, the...

Este documento describe y analiza la evolución del desempleo desde 1980 estimando el efecto de los costos laborales no salariales (parafiscales) y salario mínimo sobre la tasa y duración del desempleo así como el efecto de los costos mencionados sobre la informalidad. Los resultados...

El articulo propone un modelo teórico para entender el funcionamiento del mercado spot de energía en Colombia; en particular se analiza el comportamiento para las subastas multiunidades más conocidas, Vickrey, Discriminatoria y Uniforme. El modelo teórico, siendo un juego de información...

A central claim in favor of decentralization is that it will improve access to public services, but few studies examine this question empirically. This paper explores the effects of decentralization on access to health and education in Colombia. We benefit from an original database that includes...

During the last decade, conditional cash transfer programs have expanded in developingcountries as a way to increase school enrollment and deter youth from dropping out of school. However, despite evidence of these programs´ positive impact on school enrollment and attendance, little is known...

Keynes contents in General Theory that the monetary market logic of the aggregate real wage in the monetary production economy conveys: (i) the determination of the average real wage rate, the level of employment, and the possibility of involuntary unemployment through the interaction of the...

Colombia is an interesting case study within emerging countries. Through 150 years of democratic tradition and seven decades of sound fiscal and monetary policies, the country has displayed institutional strength and economic growth, in spite of strong external shocks, rent- seeking by sectoral...

Using a unique combination of household and violence data sets and a duration analysis methodology, this paper estimates the effect that exposure to armed conflict has on school drop-out decisions of Colombian children between the ages of six and seventeen. After taking into account the possible...