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A change in the legal statute may be able to force an equilibrium if it leads to a new equilibrium which implies some revised belief which sustains the equilibrium. Tirole (1996) developed a model to study group reputation and demonstrated that an anticorruption programme of sufficient duration and severity can play in switching an economy from high corruption with sustained belief it to one with low corruption and sustained belief for it. This shift has wide spread impact on all most all the sectors of the economy.
Valuation Tools - Hedonic Pricing Method Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
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Flaws in Conventional System - Inconsistent Treatment Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftIntern
This variant of coordination problem seeks the answer to why some countries fail to grow when public and private rent seeking makes property rights insecure. One reason is that re
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how wage increase of fixed income groups'' will affect the overall economy? what are effects exactly?
examine the efficiency of quantitative credit control instruments.
One of these is deregulator or privatization of public enterprises or utilities. Deregulation is a world wide phenomenon. But experience of power failure in California and Mumbai r
WHAT ARE THE PRINCIPLES OF MULTI-UNIT FINANCE?
As you know, the principal-agent problem stress the effect of asymmetric information between the principal and the agents on economic outcomes, the equilibrium in a principal-agent
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