In this paper, we consider a model that suggests that the theory of exchange with asymmetric information seems suitable to provide a possible explanation model of occurrence and duration of civil wars. We show that although civil conflicts are not Pareto optimal ex post they may be Pareto...

Family firms, which are prevalent around the world both for small organizations and large corporations, are usually more performant than other types of firms. This paper draws on altruism and on the theory of incentives contracting to explain why family firms perform better. Assuming that...

In this paper, we examine the consequences of imperfect information on the pattern of transfers from parents to children. Drawing on the theory of mechanism design, we consider a model of family contract with two levels of effort. We prove that equal transfers among children are expected under...