We all know that Ramsey argued that the best way to understand how the theoretical entities of a theory function is to picture them as existentially bound variables. If the entities of our theory are a, ß, and y, the best way to write our theory, he tells us, is: 3 a,ß,γ . The theory’s ‘Ramsey sentence’, the existentially bound variables are the carriers of ontological commitment. If the Ramsey sentence is true, they tell us what there is.

We all know that Ramsey argued that the best way to understand how the theoretical entities of a theory function is to picture them as existentially bound variables. If the entities of our theory are a, ß, and y, the best way to write our theory, he tells us, is: 3 a,ß,γ. The theory’s ‘Ramsey sentence’, the existentially bound variables are the carriers of ontological commitment. If the Ramsey sentence is true, they tell us what there is.

In recent decades scholars have acknowledged that transactions in the informal economy have not vanished with modernization and industrialization as expected but rather remain an important contemporary aspect of overall production and consumption across the world, in both developing and developed countries. Yet little is known about the profile of the consumers in this realm or what drives them to purchase from the informal economy. A systematic review of the literature investigating consumption in the informal economy reveals (...) a severely underdeveloped area of consumer studies with significant gaps in terms of its theoretical approaches, methods and regional coverage. The findings of the existing literature is that multiple motives are used by consumers for justifying their purchases in the informal economy beyond the dominant simplistic view that they do simply for financial gain or for a lower price. The outcome is a recognition that responsibility to reducing this phenomenon with negative effects on governments, businesses, workers and consumers lies not just with public authorities but also practitioners who need to correct the failures in formal market provision. The significant gaps identified in the literature are then used to highlight a comprehensive future research agenda, which includes the need for the development of an institutionalist theoretical perspective when explaining consumers‘ participation in the informal economy and social marketing interventions. (shrink)

By Belief Revision it is understood a system that logically explains the rational process of changing beliefs by taking into account a new piece of information. The most influential approach in this field of study, the AGM system, proposed by Alchourrón, Gärdenfors, and Makinson, postulates rationality criteria for different types of belief change. In this paper I shall assess the relationship between those criteria and argue for an opposition between the principles of Information Economy and Consistency. Furthermore, (...) I shall argue that Paraconsistent Belief Revision manages to minimise this friction in the best possible way. (shrink)

This article presents an economic analysis of information good pricing and consumer welfare, and discusses the implications of price discrimination in the information economy. It argues that network externalities, coupled with information asymmetry, enable a dominant marketer to price unequally, extracting late adopters surplus to compensate for the loss from early adopters. In the short term, the minority early adopters benefit by paying less, but in the long term, the majority late adopters suffer by paying more. (...) Considering that late adopters are likely to be at a disadvantage in resources, this discriminatory pricing amounts to the poor subsidizing the rich. Based on this analysis, implications for consumer welfare are discussed. (shrink)

The aim of the paper is to analyse whether and to what extent the network concept has become the Leitbild of an emerging new economy. The analysis is based on a company survey conducted in eight European territories. There is empirical evidence that only a minority of companies have applied the network concept as a dominant restructuring model, while various types of Fordism are still influencing companies' view on efficient techno-organisational forms. The regional analysis demonstrates that there is not (...) only one path into an informational economy. Some territories still stick to low-tech Fordism, while others apply a technology-based flexi-Fordism, in which ICT functions as a key mechanism to make Fordist structures more flexible. Only in a minority of territories is an informational network economy emerging in which ICT has the function of enabling and supporting communication and co-operation within decentralised organisational forms. (shrink)

For transition economies, income inequality is positively correlated with the share of output produced in the informal economy. Increases in income inequality also tend to be correlated with increases in the share of output produced in the unofficial economy. These hypotheses are supported significantly by empirical data for sixteen transition economies between 1987 to 1989 and 1993 to 1994. Various causal mechanisms may operate in both directions, an increasingly large informal economy causing more inequality due to falling (...) tax revenues and weakened social safety nets, and increasing inequality causing more informal activity as social solidarity and trust decline. (shrink)

In addition to facing the known competitors in the formal economy, entrepreneurs must also be concerned with rivalry emanating from the informal economy. The informal economy is characterized by actions outside the normal scope of commerce, such as unsanctioned payments and gift-giving, as means of influencing competition. Scholars and policy makers alike have an interest in mitigating the impacts of such informal activity in that it might present an obstacle for legitimate commerce. Received theory suggests that country (...) institutions can enable and constrain productive activity, and, in doing so, influence competitive obstacles in a country. Leveraging 13,670 responses from entrepreneurs distributed across 59 countries, we provide evidence that two particular types of enabling institutions, countries’ property rights regulations and cooperative actions, are useful for lowering the obstacles presented by informal activity. We also find evidence that two constraining institutions, economic and financial regulations lead to more obstacles presented by informal activity. We describe implications for entrepreneurs, policy makers, and future researchers stemming from these findings. (shrink)

The aim of this article is to shed light on women’s experience of informal trade on one of the EU external borders: Belarus–Lithuania. The article suggests looking at the informal economy beyond the notion of precarity and to pay attention to how women themselves understand their involvement in trading practices. The author argues that, although economic necessity is an important motivation for women to start trading activities, this experience rewards them not only financially but also through non-economic aspects such (...) as self-respect, solidarity and socializing. Theoretically, the article brings together the discussion of the gendered nature of informal work with the feminist theory of agency. It shows that women’s experience of informal cross-border trade is agentive. Trade provides women with a sense of pride, self-confidence and respect and enables them to recognize their self-sufficiency. However, it is also argued that agency is not synonymous with autonomy and individualism. Theoretically and empirically, the article stresses a relational understanding of agency. On the one hand, women acknowledge their financial achievements as the capability to take proper care of their children, especially in situations when the second breadwinner is absent. On the other hand, they also value their trading experience as a space of socializing with other women. The success of cross-border trade depends on the sense of solidarity and collective action to resist the system represented by customs and border control. (shrink)

The World Bank’s premise that “gender equality is good business” characterizes the current gender and economic development model. Policymakers and development practitioners promote and encourage women’s entrepreneurialism from the conviction that increasing women’s market-based opportunities is key to lifting women, their families, and communities out of poverty, resulting in the construction of a gendered entrepreneurial subject. Based on ethnographic fieldwork and interviews with home-based garment workers in Ahmedabad, India, this article questions the portrayal of women informal workers as entrepreneurs. Employing (...) a social reproduction framework, I argue that the exploitative characteristics of informal work are falsely interpreted as features of entrepreneurialism. Because work is completed in the worker’s own home, work and care become a mutual burden in which woman’s sense of providing for her family is impeded by both these roles. A feminist social reproduction framework of embodied labor links women’s responsibility for and contribution to family well-being with women’s marginalized economic position. Examining home-based work through this lens reveals the contradiction of the entrepreneurialism discourse. (shrink)

The article considers the features of ensuring the economic security of enterprises in the conditions of intensive introduction of information technologies in their activities in the process of forming the digital economy. It is determined that digitalization creates important advantages for enterprises in terms of implementing a long-term strategy for their development, strengthening economic security, and achieving significant competitive advantages in doing business. It is studied that the system of economic security of the enterprise is an organized set (...) of elements of the management infrastructure of the enterprise, which are focused on ensuring stable and effective development of the business entity, neutralization, and elimination of internal and external threats. (shrink)

The acceptability of sentences in natural language is constrained not only grammaticality, but also by the relationship between what is being conveyed and such factors as context and the beliefs of interlocutors. In many languages the critical element in a sentence (its focus) must be given grammatical prominence. There are different accounts of the nature of focus marking. Some researchers treat it as the grammatical realization of a potentially arbitrary feature of universal grammar and do not provide an explicit account (...) of its origins; others have argued, however, that focus marking is a (grammaticalized) functional solution to the problem of efficiently transmitting information via a noisy channel. By adding redundancy to highlight critical elements in particular, focus protects key parts of the message from noise. If this information‐theoretic account is true, then we should expect focus‐like behavior to emerge even in non‐linguistic communication systems given sufficient noise and pressures for efficiency. We tested this in an experiment in which participants played a simple communication game in which they had to click cells on a grid to communicate one of two line figures drawn across the grid. We manipulated the noise, available time, and required effort, and measured patterns of redundancy. Because the lines in many cases overlapped, meaning that only some parts of each line could be used to distinguish it from the other, we were able to compare the extent to which effort was expended on adding redundancy to critical (non‐overlapping) and non‐critical (overlapping) parts of the message. The results supported the information‐theoretic account of focus and shed light on the emergence of information structure in language. (shrink)

L’article fait Je point sur les thèses néo-institutionnalistes et sur la théorie des jeux telles qu’elles ont été «appliquées» à l’histoire. L’analyse des marchés principaux (travail, terre, crédit) et leur impact sur la théorie du développement sont également présentés. L’auteur prend ensuite en considération la théorie des jeux, il en discute les hypothèses et les présupposés de manière à rendre explicites les usages qui en ont été faits en histoire. La dernière partie introduit des notions plus complexes de rationalité économique, (...) distingue entre information et connaissance et propose un schéma heuristique permettant d’intégrer certains éléments de l’économie de l’information et des jeux dans des démarches qui tiennent compte des notions temporelles propres à l’historiographie. (shrink)

The paper is based on the New Institutional Economic Theory, which emphasizes institutions as a vital component in the creation of wealth and economic growth. It is widely accepted that formal institutions change rapidly through political and legislative decisions. Informal institutions are deeply embedded in customs, tradition and inherited behavioral norms. Thus, change comes at a very slow pace. This research is focused on the business ethics segment of informal institutions.The paper is based on the effects of institutional changes on (...) the position and the slope of demand curve for ethical business behavior. Business people faced with opportunity costs that influenced their behavior. Additional statistical analyses provide evidence of business ethics perception, which is more expressed in the group of managers than in the administration group. Behavior of the middle-aged population differs significantly in comparison to other groups when deciding on ethical dilemmas in real business situations.Cet article s’inspire de la Nouvelle Economie Institutionnelle qui met l’accent sur les institutions en tant que composante fondamentale du processus de création de richesses et de la croissance économique, Il est généralement reconnu que les institutions formelles se modifient rapidement sous l’impulsion de décisions politiques et législatives. Les institutions informelles, quant à elles, sont profondément ancrées dans les coutumes, les traditions, et les normes de comportement héritées d’anciennes générations. Ainsi, dans le cas de ces institutions, le changement est beaucoup plus lent. Cet article met l’accent sur l’éthique des affaires en tant qu’une des composantes des institutions formelles.Une des idées qui sous-tend l’article est l’analyse des effets des changements institutionnels sur la position et la pente de la courbe de demande pour des comportements éthiques dans les affaires. Les hommes d’affaires font face à des coûts d’opportunité qui influencent leur comportement. Des analyses statistiques supplémentaires donnent la preuve de la perception de l’éthique des affaires, perception qui est plus aiguë parmi les managers que parmi les administratifs. Le comportement de la population d’âge intermédiaire diffère de manière significative de celui des autres groupes face à des dilemmes éthiques que suscitent certaines situations concrètes du monde des affaires. (shrink)

Online technologies enable vast amounts of data to outlive their producers online, thereby giving rise to a new, digital form of afterlife presence. Although researchers have begun investigating the nature of such presence, academic literature has until now failed to acknowledge the role of commercial interests in shaping it. The goal of this paper is to analyse what those interests are and what ethical consequences they may have. This goal is pursued in three steps. First, we introduce the concept of (...) the Digital Afterlife Industry, and define it as an object of study. Second, we identify the politico-economic interests of the DAI. For this purpose, we develop an analytical approach based on an informational interpretation of Marxian economics. Third, we explain the practical manifestations of the interests using four real life cases. The findings expose the incentives of the DAI to alter what is referred to as the “informational bodies” of the dead, which in turn is to be seen as a violation of the principle of human dignity. To prevent such consequences, we argue that the ethical conventions that guide trade with remains of organic bodies may serve as a good model for future regulation of DAI. (shrink)

This book is not another parable of Japan's economic success; it provides rich and systematic descriptions of Japanese microeconomic institutions and interprets their work in terms familiar to Western economists. A systematic, in-depth analysis of Japanese institutions of this kind has never been available before. In making his comparative analysis of the Japanese system, Professor Aoki critically examines conventional notions about the microstructure of the market economy that have strongly shaped and influenced economists' approach to industrial organization. While these (...) notions may constitute an appropriate foundation for the analysis of the highly market-oriented Western economies, the author has found that a more complete understanding of the Japanese economy requires us to broaden such 'specific' notions. At one level, therefore, this book may be regarded as a provocative exercise in comparative industrial organization and the theory of the firm. To the extent that this approach is convincing, the book suggests a reordering of focus and emphasis in these studies. (shrink)

The word blat refers to the system of informal contacts and personal networks which was used to obtain goods and services under the rationing which characterised Soviet Russia. Alena Ledeneva's book is the first to analyse blat in all its historical, socio-economic and cultural aspects, and to explore its implications for post-Soviet society. In a socialist distribution system which resulted in constant shortages, blat developed into an 'economy of favours' which shadowed an overcontrolling centre and represented the reaction of (...) ordinary people to the social constraints they faced. In social and economic terms, blat exchanges became vital to the population, and to the functioning of the Soviet system. The book shows that the nature of the economic and political changes in contemporary Russia cannot be properly understood without attention to the powerful legacy of the blat economy. (shrink)

Algorithmic technologies and artificial intelligence are centred on data and generate new business models, known as the data-driven economy. In the European Union context, the development of such new business is accompanied by a regulatory and political framework. An important aspect of this regulatory framework regards the legal conditions that enable the data collection, availability, sharing, use and reuse. Within the larger context, this article analyses the development of the European Union regulatory framework governing the availability, sharing and reuse (...) of public sector data, also referred to as Public Sector Information policy. Anchored in the analytical tools provided by Discursive Institutionalism and Critical Data Studies and after studying the evolution of this policy over 25 years, this article argues that economic considerations have been overwhelmingly decisive in the European Union Public Sector Information policy and much less attention has been paid to fundamental rights and democracy issues. It also shows how European Union Public Sector Information policy contributes to the data infrastructure, enabling a thriving data-driven economy. In doing so, this article argues that the possible problematic effects of this new data-driven economy are not only affordances of the technology itself but are also the result of political and regulatory choices. More globally, the article stresses the need for policymakers to inscribe each of the policies and regulations affecting the digital transformation in the framework of fundamental rights and democracy. (shrink)

By the very nature of information technology (IT), change and dynamism have always been significant drivers on its path to further development—and it has traditionally been the Western countries leading these. Now the picture is changing. The new high growth economies of the world (also known as BRIC countries) are increasingly pressing forward as active IT development drivers. Internal IT organizations of international companies are experiencing these global shifts firsthand and are facing changes in their traditional roles. This exploratory (...) research is aimed at clarifying the context of the impact of high growth economies on such IT departments of Western-rooted enterprises. Forty-six interviews were conducted with IT managers, HR managers and expatriates emphasizing the importance of intercultural interaction, maturing IT economies, change in IT landscape and entrepreneurship. (shrink)

Graphic pattern (e.g. geometric design) and number-based code (e.g. digital sequencing) can store and transmit complex information more efficiently than referential modes of representation. The analysis of the two genres and their relation to one another has not advanced significantly beyond a general classification based on motion-centred geometries of symmetry. This article examines an intriguing example of patchwork coverlets from the maritime societies of Oceania, where information referencing a complex genealogical system is lodged in geometric designs. By drawing (...) attention to the interplay of graphic pattern and number-based code and its role in the knowledge economies of maritime societies, the article offers new insight into possible ways of designing a digital informational surface that captures the behaviour of an operational system, allowing both for differentiation and integration. (shrink)

In an effort to improve comparability between socially responsible investment products and standardize investment terminology, Australian legislators recently required investment managers to report to retail investors the extent to which 'social considerations' are used in portfolio construction. Using a lens of political economy, this paper assesses whether the objectives of the legislation to standardize investment terminology, promote inter-product comparability and encourage the accountability of product claims have been met. The context of legislative development is examined in Australian Parliamentary debates. (...) Practised accountabilities are identified by examining a representative sample of the initial set of regulated disclosures issued. The quality of regulated information disclosures is assessed by the degree of correlation with legislators' objectives and the regulatory requirements. Initial disclosures were poor, providing little basis for comparability. In some instances, the quality of information had declined relative to the information supplied on a voluntary basis before the legislation took effect. The evidence supports a criticism of a regulatory laissez faire approach to self-reporting and an argument for more directed regulation of management processes. (shrink)

The most disturbing aspects of the growth of underground economies are the interrelated problems of unreported and unrecorded income. A large and growing underground economy can thwart fiscal efforts to establish budget balance and may significantly undermine the veracity of a nation's economic information system. The notion that economic information is itself endogenous raises the possibility that at least part of the economic malaise observed in most Western nations during the past two decades is essentially the result (...) of a statistical illusion. The essays in this 1989 volume examine the problems of defining, measuring and understanding the implications of the underground economies that have emerged in many of the world's developed nations. Empirical chapters examine the conceptual problems of how to measure a phenomenon that attempts to defy detection. Alternative measurement procedures are evaluated. Specific studies are included for the United States, the Netherlands, the United Kingdom, Germany, Sweden, Italy, Norway, Canada, France, the Soviet Union and Hungary. (shrink)

In an effort to improve comparability between socially responsible investment products and standardize investment terminology, Australian legislators recently required investment managers to report to retail investors the extent to which ‘social considerations’ are used in portfolio construction. Using a lens of political economy, this paper assesses whether the objectives of the legislation to standardize investment terminology, promote inter‐product comparability and encourage the accountability of product claims have been met. The context of legislative development is examined in Australian Parliamentary debates. (...) Practised accountabilities are identified by examining a representative sample of the initial set of regulated disclosures issued. The quality of regulated information disclosures is assessed by the degree of correlation with legislators' objectives and the regulatory requirements. Initial disclosures were poor, providing little basis for comparability. In some instances, the quality of information had declined relative to the information supplied on a voluntary basis before the legislation took effect. The evidence supports a criticism of a regulatory laissez faire approach to self‐reporting and an argument for more directed regulation of management processes. (shrink)

Interorganizational information systems are information systems that cross organizational boundaries. Information managers and system developers often assume that the more integrated these information systems are, the more successful the system will be. Such an assumption is indeed intuitively appealing, and, from a technological standpoint, readily understandable. In practice, development and use of integrated information systems that cross organizational boundaries often result in confusing power struggles, politicking, and sometimes manifest sabotage. Based on economic and political organization (...) theory, this article concludes that data ownership and incentives, rather than integration, are of vital importance for the success of interorganizational information systems. (shrink)

Situating Manuel Castells's three-volume work, The Information Age, within a broad tradition of classical social theory that has sought to come to terms with the emergence of new forms of social, economic and cultural life, critical consideration is given to a series of concerns, including questions of analytic perspective and in particular the relevance of the work of Marx; the concept of the network society; the movement from production to consumption as the primary medium through which individuals are engaged (...) within contemporary society; and issues of identity and community. In contrast to Castells's identification of an ethical foundation or spirit of informationalism, it is argued that an aesthetics of consumption is central to modern society in its informational capitalist phase and that as society has become more exposed to the consequences of informationalism and the associated globalization of capital, the prospect of living in an ethically responsible manner has diminished significantly. (shrink)

In the global context, the economic-technological powers are also the political-cultural powers, which have the capacity to obtain the maximising benefits from the global flow of information. Meanwhile, the countries which are inferior in economics, technology, etc. feel unable to enjoy the fruits of the information society; they have to struggle for their right to communicate.

The paper proposes a notion of fairness which overcomes the conflict arising between efficiency and the absence of envy in economies with uncertainty and asymmetrically informed agents. We do it in general economies which include, as particular cases, the main models of differential information economies, providing in this framework a natural competitive equilibrium notion which satisfies the fair criterion. The analysis is conducted allowing the presence of large traders, which may cause the lack of perfect competition.

Plastic consumption is an important aspect of contemporary living, and studies that systematically examine consumers’ plastic waste recycling intentions from an ethical perspective are scarce. Considering the severity of plastic waste recycling problems globally based on the stimulus-organism-response paradigm, this study analyses how the information publicity influences consumers’ plastic waste recycling intentions from an ethical perspective in an emerging market economy. We investigate this link by focusing on the indirect effect of perceived social pressure and the moderating role (...) of media disposition (i.e., media richness and content trustworthiness). Data from a three-wave field survey of 469 household consumers from China showed that social pressure mediated the positive relationship between information publicity and ethical recycling intentions. Additionally, media richness and content trustworthiness moderate the link between information publicity and consumers’ perceptions of social pressure. These findings provide encouraging evidence for applying the SOR paradigm to explain the ethical recycling intention of consumers. The findings may assist policymakers in motivating consumers to think ethically about plastic waste recycling. (shrink)

The main purpose of this study is to examine the impact of the big data management capabilities on the performance of manufacturing firms in the Asian Economy during coronavirus disease 2019. In addition to this, this study is also planned to examine the mediating role of organizational agility in the relationship between the big data management capabilities and the performance of Chinese manufacturing firms during COVID-19. Last, this study has examined the moderating role of information technology capability in (...) the relationship between the big data management capabilities and performance of Chinese manufacturing firms during COVID-19. This study adopted the quantitative method of research with a cross-sectional technique. This study employed a questionnaire to gather the data as a research instrument. This study has used the purposive sampling method by keeping in mind the context of this study. Employees of the Chinese SMEs that were at least 10 years old were the population of this study. The research model was being analyzed by employing the “partial least squares” technique through statistical software the Smart PLS version 3. The results are in line with the proposed hypothesis. This study contributed to the literature by suggesting characteristics that promote or prevent the organization from successfully implementing big data and pointed out that showing resistance in information management system implementation may have different effects on the organization. Besides, the study also discussed the relationship between such information systems and the organization. Findings of these two factors provide insights for the practitioners and researchers in assessing the success or failure of organizations for using big data. (shrink)

This article examines the fairness of business competition in the field of information and communication technologies. In the era of "postcontemporary society" economy, the dominant factor of development is the use of information. The share of business in the field of information and communication technologies in the economy is constantly growing. For businesses, its integration into the Internet, which has become an important market for the sale and promotion of goods and services, is becoming increasingly (...) important. Various digital innovations, social networks, mobile applications, information and communication technologies have become commonplace in today's society, which affects the need to study their impact on business. Technology transfer is the basis of innovative activities of small businesses and a means of their sustainable development, a guarantee of profit and social impact. It is noted that in order to win in the competition, personal brand and trademarks, strategic management and balanced business plans are of special importance. A characteristic feature of leading high-tech companies is the use of digital platforms through which they provide their services. Digital platforms are used for interaction in social networks, use of search and payment systems, exchange of information materials. The need for high start-up costs leads to the difficulty of entering this market and the concentration of large amounts of data in the hands of a small number of players, which carries the threat of monopolization in the market of digital platforms. (shrink)

The article evaluates how knowledge workers in new-age businesses in developing economies conceptualize and practise acts of individual social responsibility vis-à-vis the corporate social responsibility endeavours of the companies for which they work. The study aims to differentiate between the values that drive ISR and CSR in such organizations. On one hand, the study targets young information technology professionals between the ages of 25 and 35 years exploring the individual motivations for socially responsible behaviour, and it looks at CSR (...) managers responsible for strategizing and implementing CSR portfolio, representing the organizational imperatives of CSR behaviour and practice on the other. The study concludes with a conceptualization of how the convergence or otherwise of motivations between ISR and CSR in such organizations are defined and what are their determinants, with the derivative managerial implications for firms in developing economies in the context of managing the relatively younger workforce’s participation in their CSR efforts. (shrink)

Drawing on current debates at the frontiers of economics, psychology, and political philosophy, this book explores the challenges that arise for liberal democracies from a confrontation between modern technologies and the bounds of human rationality. With the ongoing transition of democracy's underlying information economy into the digital space, threats of disinformation and runaway political polarization have been gaining prominence. Employing the economic approach informed by behavioral sciences' findings, the book's chief concern is how these challenges can be addressed (...) while preserving a commitment to democratic values and maximizing the epistemic benefits of democratic decision-making. The book has two key strands: it provides a systematic argument for building a behaviorally informed theory of democracy; and explores how scientific knowledge on quirks and bounds of human rationality can inform the design of resilient democratic institutions. Drawing these together, the book explores the centrality of the rationality assumption in the methodological debates surrounding behavioral sciences as exemplified by the dispute between neoclassical and behavioral economics; the role of rationality in democratic social choice; behaviorally informed paternalism as a response to the challenge of irrationality; and non-paternalistic avenues to increase the resilience of the democratic institutions towards political irrationality This book is invaluable reading for anyone interested in behavioral economics and sciences, political philosophy and the future of democracy. (shrink)

This book provides a detailed theoretical overview and analytical understanding of informal labour markets in the context of economic reforms. Grounded in the neo-classical general equilibrium framework, it analyses the impact of deregulatory policies on the welfare of informal workers in a segmented labour market.