Information asymmetry is a necessary prerequisite for testing adverse selection. This paper applies this sequence of tests to Mauritian slave auctions. Dynamic auction theory with private value highlights more aggressive bidding by uninformed bidders and higher prices when an informed...

Recent debates amongst civil society organizations focusing on the governance of multilateral development banks have expressed some concerns regarding institutional capacities to ensure project quality-at-entry in line with key developmental issues. The present paper delves upon the African...