"In particular, the academic debate over the best prediction about the behavior of people that use a common-pool resource (CPR), and the recommended policy approaches to the CPR dilemma have undergone a very interesting evolution throughout the last 3 decades of the pastcentury, since the...

Economic loss to society due to dishonesty can be quite large. Policy makers use several international indices that characterize countries according to the quality of their institutions. However, no effort has been made to study how the honesty of citizens varies across sixteen countries. This...

Econometric analyses of European datasets suggest that income aspirations increase with current income. This finding is consistent with the adaptation hypothesis –the notion that individual aspirations adjust to reflect personal circumstances and living conditions. We add to these existing...

We explore the role of reciprocity in wage determination by combining experimentaland survey data. The experiment is similar to Berg, Dickhaut and McCabe's (1995) and is conducted with Ghanaian manufacturing workers. The survey relates to the same sample workers and the firms within which they...

Although microfinance institutions across the world are moving from group lending towards individual lending, this strategic shift is not substantiated by sufficient empirical evidence on the impact of both types of lending on borrowers. We present such evidence from a randomised field...