American Economic Journal: Microeconomics

Relationships on the Rocks: Contract Evolution in a Market for Ice

Firms use relational contracts to support repeated trade. Do these informal agreements evolve in response to market conditions? In a market for ice, firms reestablish relationships on new terms when a prior agreement breaks down.

Journal Article
1 Jan 2021

Risk and Return in Village Economies

This paper by Samphantharak and Townsend (2018), published in the American Economic Journal: Microeconomics, provides a theory-based empirical framework for understanding the risk and return on productive capital assets and their allocation across activities in an eco

Journal Article
1 Feb 2018