Using event study methodology, we investigate whether bilateral investment protection treaties afford protection to foreign investors. Examining arbitral decisions for firms from six countries shows that firms that received awards from arbitrators gained in market value by as much as 3%. Per...

The inefficiency of cooperative agriculture relative to private farms is often attributed to difficulties in monitoring or poor incentives. We develop a model to show that, in technologies with numerous sequential steps, even small shortfalls in worker effort can result in large output declines....

Using event study methodology, we investigate whether bilateral investment protection treaties afford protection to foreign investors. Examining arbitral decisions for firms from six countries shows that firms that received awards from arbitrators gained in market value by as much as 3%. Per...