international institutions. The provisions and the practice of international arbitration are reviewed, and a general equilibrium …

adaptation.A major theme of the paper is the role of economic institutions in growth and in the penultimate section, the links …

We model the emergence of formal insurance institutions as equilibria under limited contract enforceability where … formal insurance institutions. …

While both cultural and legal norms (institutions) help foster cooperation, culture is the more primitive of the two … and itself sustains formal institutions. Cultural changes are rarer and slower than changes in legal institutions, which …

. According to our preferred interpretation, these events provide evidence that, under weak institutions, popular mobilization and …

standard retail investors. Institutions care about their performance relative to a certain index. Our framework is tractable …, admitting exact closed-form expressions, and produces the following analytical results. We find that institutions optimally tilt … leaving nonindex stocks unaffected. By demanding a higher fraction of risky stocks than retail investors, institutions amplify …