We use economic experiments to investigate how different contract enforcement regimes affect efficiency and the distribution of surplus in a vertically coordinated market with buyer concentration. We find that if a third party (e.g., government) perfectly enforces contracts, social efficiency is...

This paper argues that an increased application of quasi-experimental and experimental techniques will improve understanding about core environmental economics questions. This argument is supported by a review of the limitations of associational evidence in assessing causal hypotheses. The paper...

This inaugural World Development Symposium on Development and Poverty Alleviation brings together contributions from a range of disciplines, scholars, practitioners, and countries to mark the recognition of Abhijit Banerjee, Esther Duflo and Michael Kremer (BDK) through the 2019 Sveriges...

This study is situated in an investment context and explores how the effect of framing (gain versus loss framing) changes the impact of incidental emotions (fear and excitement) on behavioral and physiological outcome measures. While existing literature has found that the effects of framing and...

Utilizing the Trade Reporting and Compliance Engine (TRACE) setting as an exogenous shock to bond market transparency, we find that improved bond market transparency leads to lower crash risk in the stock market, consistent with increased information spillover from the bond market into the stock...