ECON 426W Final: 426 final exam 4-19-2015

• School: Simon Fraser University
• Department: Economics
• Course: ECON 426W
• Professor: all

Document Summary

Then answer the following questions: (i) why do you think. Lmfs: (i) asset specificity; (ii) adverse selection; (iii) portfolio diversification; (iv) entrepreneurial rent. Define each of the following concepts and carefully explain how it could be important for. Lmfs: (i) transaction costs; (ii) total factor productivity; (iii) moral hazard; (iv) repeated games. Most people regard mondragon and the lega as successful examples of lmfs. In each of these cases, there is not just a single isolated lmf, but a large group of related lmfs. 4b. (i) lmfs are sometimes transformed into kmfs. Use the plywood coops as an example of this process. Describe how this transformation occurred in the real world, and discuss how it could be explained using economic theory. (ii) kmfs are sometimes transformed into lmfs. Steel (not both) as an example of this process. Describe how the transformation occurred in the real world, and discuss how it could be explained using economic theory.