In a principal-agent framework under moral hazard, when the monopolist can pass on the liability of any defect of the product to the subcontractors, and cannot credibly commit to a high level of investment, he actually chooses a low investment level and supplies a low quality product if the...

This study is based on a primary survey conducted over two consecutive years in two villages in the North 24 Parganas district of West Bengal, India. West Bengal has the unique feature of being under a single coalition government for the last 30 years. In this context, we examine the effect of...

Our paper develops a two-stage sequential game between an incumbent and a pirate to find the optimal quality level of the firm in the presence of network externality. The results show that the incumbent in the presence of piracy chooses minimum quality for its product and undertakes an...

The present paper tries to identify the socio-political and economic characteristics of borrowers of different types of loans and loan sizes, on the basis of a primary household survey on around 300 households carried out in two villages in the district of North 24-Parganas in West Bengal,...

The purpose of this paper is to study the long run evolution of a world economy (divided into a North and a South) and to re-evaluate some conventional ideas regarding the inter-relation between the two economies. Here, a technologically backward South adopts the Northern technology by importing...