Economic theory provides various explanations for vertical integration but transaction costs seem to be a major determinant of backward, forward and lateral integration. The paper studies integration trends in the newly emerging Bulgarian pharmaceutical sector, seeking transaction cost...

Economic theory provides various explanations for vertical integration but transaction costs seem to be a major determinant of backward, forward and lateral integration. The paper studies integration trends in the newly emerging Bulgarian pharmaceutical sector, seeking transaction cost...

Our paper studies the causes of poverty from the perspective of job search. We show that poor people remain poor because they have less time and initial endowment to search for a better job. Initial endowment is key to successful job search, as one can afford not to work and search longer for a...

Economic theory provides various explanations for vertical integration but transaction costs seem to be a major determinant of backward, forward and lateral integration. The paper studies integration trends in the newly emerging Bulgarian pharmaceutical sector, seeking transaction cost...

Our paper studies the causes of poverty from the perspective of job search. We show that poor people remain poor because they have less time and initial endowment to search for a better job. Initial endowment is key to successful job search, as one can afford not to work and search longer for a...