Political Economy and Public Policy

  title={Political Economy and Public Policy},
  author={GORDAN VURU{\vS}I},
  • Published 2004
The purpose of this paper is twofold: first, on the normative level, the author compares three main ways of securing trust on imperfectly competitive markets – informal social enforcement, formal-third party enforcement, and conditional internal commitment to the cultural norm of trust, in terms of the standard criteria of allocative and adaptive efficiency… CONTINUE READING