Spontaneous Market Emergence. by Fafchamps, M

“…Reputational equilibria in which cheaters are permanently excluded are not decentralizable unless contracting is already developed and breach of contract is interpreted as a sign of impending bankruptcy.…”

Les institutions de marche en Afrique subsaharienne. (With English summary.) by Fafchamps, M

“…But decentralized exclusion can arise if breach of contract is interpreted as a signal of impending bankruptcy. I discuss the circulation of information about type and behavior, which is fraught with incentive problems, and the role of networks in shaping market interaction.…”

Spontaneous market emergence by Fafchamps, M

“…Reputational equilibria in which cheaters are permanently excluded from trade are not decentralizable unless markets are already developed and breach of contract is interpreted as a sign of impending bankruptcy. Market emergence is a path dependent process.…”

Spontaneous Market Emergence. by Fafchamps, M

“…Reputational equilibria in which cheaters are permanently excluded from trade are not decentralizable unless markets are already developed and breach of contract is interpreted as a sign of impending bankruptcy. Market emergence is a path dependent process.…”