Rents, competition, and corruption

Article Abstract:

A survey was conducted on the cause of corruption using the corruption data indices of Business International Corp. Results showed that countries with higher firm rents and regulations are not effective in promoting competition and have higher corruption levels. However, the effects of rents on corruption are still not quite understood. Thus, to help control corruption, competition must be encouraged. When there is less competition, corruption increases as a result of higher rent imposition on bureaucrat controlled firms.

Ethical aspects, Corporations, Corporate corruption

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National champions and corruption: some unpleasant interventionist arithmetic

Article Abstract:

An analysis of the economic costs of political corruption with regards to active and inactive industrial policies reveals that corruption is more rampant in economies having active industrial policies. The study reports that active industrial policy has an 84% to 56% direct impact on investment, thereby suggesting that cost-benefit analyses of industrial policies should include the costs of corruption.

Trade policy, Commercial policy

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Probabilities vs money: a test of some fundamental assumptions about rational decision making

Article Abstract:

An evaluation of fundamental assumptions concerning decision making was undertaken through consideration of payoff-related problems. A control sample given with money payoffs was shown to exhibit risk behavior, such as risk seeking, risk aversion or risk neutrality. On the other hand, a behavior based on the principle of optimizing the likelihood of winning the high payoff was also observed.

Social & Behavioral Sciences, Decision-making, Decision making, Analysis, Risk-taking (Psychology), Risk taking, Decision theory

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