Contingent ownership structures are prevalent in joint ventures. This paper o ers an explanation based on the investment incentives provided by such an arrangement. We consider a hold-up problem in which two parties make relationshipspeci c investments sequentially in order to generate a joint surplus in the future. In our model, the following ownership structure implements rst best investments...

Recent experiments have shown that the congener Abeta(1-40)[D23-K28], in which the side chains of charged residues Asp23 and Lys28 are linked by a lactam bridge, forms amyloid fibrils that are structurally similar to the wild type (WT) Abeta peptide, but at a rate that is nearly 1000 times faster. We used all atom molecular dynamics simulations in explicit water, and two force fields, of the WT...

Designing an effective HIV-1 envelope glycoprotein (Env) immunogen for elicitation of broadly neutralizing antibodies (bNAbs) is a challenging task because of the high sequence diversity, heavy glycosylation, and inherent meta-stability of Env. Based on the antigenic profile of recently isolated bNAbs, the rational approach to immunogen design is to make a stable version of the Env trimer, whic...

transaction cost economics (tce), as a subset of new institutional economics (nie), is the combination of economics, organization and law. noble prize in 2009 was dedicated to oliver williamson who was the most popular face in the economics as tce main contributor. in tce, the main issues on the one hand is how institutions follow characteristics of transactions, on the other hand, the making o...

An ideal HIV-1 Env immunogen is expected to mimic the native trimeric conformation for inducing broadly neutralizing antibody responses. The native conformation is dependent on efficient cleavage of HIV-1 Env. The clade B isolate, JRFL Env is efficiently cleaved when expressed on the cell surface. Here, for the first time, we report the identification of a native clade C Env, 4-2.J41 that is na...

ABSTRACT Cross-border alliances expose firms to heightened risks, posing different governance and control challenges than domestic alliances. We examine the impact of differences in alliance partner countries' institutional environments. Analysis survey data supports our contention that cross-border involve a greater reliance on formal controls, particularly when collaborate with partners count...

Aim: In this paper, it is argued that in complex financial systems private goods, important for the creation of a market, have to be considered multiple differing property rights structures necessary functioning system. This may lead high transaction costs and adverse incentives different players, threatening sustainability The aim article create explore framework assessing fragilities threats ...

The paper examines gender differences in intra-firm and inter-firm job changes, including worker-initiated and firm-initiated separations, for white full-time British workers over the period 1991-96. We document four main findings. First, job mobility is high for both men and women, with more than one quarter of the sample changing job each year. Second, the distinction between promotions, quit...

We analyze experimentally the role of vertical and horizontal fairness in labor relations with implicit contracts. We focus on two prominent wage schemes in firms with more than one agent: wage equality as an extreme form of wage compression and individual wage setting. We find that efforts and efficiency are significantly higher under individual wages. This is not caused by differences in mone...