The Land Acquisition, Rehabilitation and Resettlement Bill (LARR) is considered to be a flawed piece of legislation. An alternative method based on auction based pricing mechanism is suggested here.

The new Bill on land acquisition recently tabled in Parliament is well intentioned but seriously flawed. Its principal defect is that it attaches an arbitrary mark-up to the historical market price to determine compensation amounts. This will guarantee neither social justice nor the efficient...

We present a model in which the media endorses the character of office-seeking candidates as a means to promote its own ideological agenda. In equilibrium, political parties completely pander to the elite-controlled media under moderate ideological conflict between voters and the elite. Larger...

This two-volume original reference work provides a comprehensive overview of development economics and comprises contributions by some of the leading scholars working in the field. Authors are drawn from around the world and write on a wide range of topics.

A seller seeking to sell an indivisible object can post (possibly different) prices to each of n buyers. Buyers' valuations are private information and drawn independently from the same distribution. If the seller can choose who to sell to in the event there are several willing buyers, her...

We study the problem of loan enforcement in an informal credit market where credit histories of borrowers are not available to lenders, raising the possibility of serial default. We show that if there is critical minimum proportion of natural defaulters in the populatin, then there exists an...

We study cooperative behaviour in communities where the flow of information regarding past conduct is limited or missing. Players are initially randomly matched with no knowledge of each other's past actions; they endogenously decide whether or not to continue the repeated relationship. There is...