Inspired by Karl Polanyi’s writings on three allocation modes, namely reciprocity, exchange and redistribution, we first tested a reciprocity ring with ten players. The baseline treatment, with no possibility of socialisation, displayed very low levels of allocative efficiency. Consistently...

This paper presents a new framework for analysis and improvement of environmental management based on the achievements of the New Institutional and Transaction Costs Economics. Following that new framework we first, identify the major environmental problems and risks in Bulgarian agriculture....

This paper incorporates a new inter-disciplinary methodology of the New Institutional and Transaction Costs Economics, and examines pace, factors and modes for post-communist agricultural specialization and farming structures development in Bulgaria. Firstly, it outlines the framework for...

Abstract This paper suggests that there exists a neglected third branch of Chicago price theory, which includes Armen Alchian (1914–2013), James Buchanan (1919–2013), and Ronald Coase (1910–2013). While this branch shares characteristics that are common to the other branches of Chicago...

The development studies community needs to work towards building cumulative knowledge that lies between all-encompassing universal truths that leads to a ‘one solution fits all’ approach, on the one hand, and empirically rich atheoretical context-specific details, on the other....

<Para ID="Par1">This paper explores the role of state capacity in the comparative economic development of China and Japan. Before 1850, both nations were ruled by stable dictators who relied on bureaucrats to govern their domains. We hypothesize that agency problems increase with the geographical size of a...</para>

This paper explores the role of state capacity in the comparative economic development of China and Japan. Before 1850, both nations were ruled by stable dictators who relied on bureaucrats to govern their domains. We hypothesize that agency problems increase with the geographical size of a...

This article assesses the impact in the US of adopting a patent post-grant review (PGR) procedure similar to one provided in the America Invents Act (AIA) of 2011. We employ novel methods for matching US patents to their European counterparts to find that opposition rates are about three times...