The conventional view that product heterogeneity limits the scope for collusion among oligolpolists has been challenged in recent theoretical work. This paper provides an argument in support of the conventional view by emphasising the role of uncertainty. I introduce the idea that, with...

We investigate how emigration from a developing region is affected by xenophobic violence at destination. Based on a unique household survey collected in Mozambique in summer 2008, a few months after a series of xenophobic attacks in South Africa that killed dozens and displaced thousands of...

In the nineties, average firm size decreased, organisations decentralized, and workers preferences shifted from large to small firms. Our model identifies the economic forces behind this trend. Small firms with little capital at risk are subject to risk-shifting. They realize more of their...

We investigate how contract specificities affect the performance of municipal infrastructure projects in transportation, district heating, water and waste water, and solid waste. Using data from projects financed by the European Bank for Reconstruction and Development (EBRD), we look at the...

This paper investigates how contract specificities affect the performance of municipal infrastructure projects in the transportation, district heating, water, waste water and solid waste sectors. Using data from projects financed by the European Bank for Reconstruction and Development, we look...