This paper examines the implementation of a Big Push policy in Northern Honduras. Big Push theory emphasizes that pro-active development policy could potentially lead to a Pareto-superior equilibrium. Market forces may not lead to the adoption of increasing-returns production processes, if...

This paper derives a model of vertical integration when it is difficult to write binding long-term supply price contracts. Thus, a vertical separated monopolist is vulnerable to hold-up. Without integration, the authors demonstrate that a bottleneck monopolist has an incentive to encourage more...

A major criticism of the information processing hierarchy model of management structure pioneered by Radner and Van Zandt is that it is unrealistic in its description of labor. This paper shows how the existing model can be extende to use labor hours instead of just the number of people...