This paper applies the property rights theory to study both positive and normative aspects of legislative delegation in a setup where interest groups directly influence lawmaking by initiating regulatory bargaining. A self-interested legislature choosing between the direct exercise of its...

The analysis presented in this paper shows that in countries with relatively high wages risk-averse fi rms operating in perfectly competitive markets will reduce production of commodities with high uncertainty of demand. Such commodities will be produced mainly in countries having suffi ciently...

Foreign direct investment (FDI) brings host countries capital, productive facilities, and technology transfer, as well as new jobs and management expertise. Thus, it is important to understand why in many transition countries FDI inflow is lower than expected. The goal of this study is to...

This paper examines the effects of changes in information-processing technology on the efficient organizational forms of data-processing in decision-making systems. Data-processing is modelled in the framework of the dynamic parallel processing model of associative computation with an endogenous...