Theory fails to predict clearly whether a greater public investment in the higher education system effectively decreases the inequality between the educational attainment of rich and poor students. It is assumed that a rich student enrolled at a university receives a monetary transfer from his...

When procurement contracts are awarded through competitive tendering participating firms commit ex ante to fulfil a set of contractual duties. However, selected contractors may find profitable to renege ex post on their promises by opportunistically delivering lower quality standards. In order...