This paper explores conflicts that have arisen around the opening of the Forest Reserve Imataca in Venezuela's south to large-scale mining activities, which is justified by the State to boost the ailing national economy. Venezuela's move towards intensifying natural resource exploitation in this region as well as resource use activities already under way might put one of the largest remaining t...

The conventional Cobb-Douglas production function model require strong assumptions such as the constant elasticity and the entire frontier efficiency. The varying elasticity production function is an useful extension but it does not take frontier efficiency into account, and the data envelope analysis model involves the use of linear programming methods to estimate the frontier efficiency where...

The split of Sudan into two sovereign states, Sudan and the Republic of South Sudan, in July 20 II did not come as a surprise to many interested parties to the Sudanese conflict. Sudan and the Republic of South Sudan have intensified their dispute over an oil rich border region of Abyei . This artic le looks at the history of another border dispute between Nigeria and Cameroun over Bakassi peni...

This paper o¤ers an explanation of rationally incomplete contracts where incompleteness refers to unforeseen contingencies. Agents enter a relationship with two-sided moral hazard in which a commitment to discard parts of the joint resources may be ex ante e¢cient. This happens through costly legal dispute which arises when contract terms are missing for the undesirable outcomes. We show that a...