While much is known about citizens' decisions to trust others, much less is known about the cognitive mechanisms underlying these decisions. Thus, we analyze both the behavior and brain activity associated with these decisions by replicating well known experiments on trust with...

The institutions that define the sequence of delegations that democracy entails have systematic effects on public policy. Democratic states that systematically provide public goods are typically seen as having three characteristics: they are decisive; they have the administrative capacity to...

Risk, whether market or political, is an important determinant of private investment decisions. One important risk, subject to control by the government is the risk associated with the hold-up problem: governments can force utilities to shoulder burdensome taxes, to use input factors...