We study the cost of breaching an implicit contract in a goods market, building on a recent study that documented the presence of such a contract in the Coca-Cola market, in the US, during 1886-1959. The implicit contract promised a serving of Coca-Cola of a constant quality (the "real thing"),...

We examine a balanced panel of globalization indices for 129 countries over the years 1991- 2010. We report evidence of cross-country sigma convergence in the overall globalization index. Sigma convergence also holds for each of the economic, political, and social globalization indices, as well...

Will a society's political agents provide good governance? An answer must be sought first and foremost at the constitutional level. While Austrians have made important contributions to constitutional political economy (CPE), they have often avoided interesting and important questions regarding...