Abstract

Informal institutions have profound effect on policy outcomes. Findings show that the tendency to focus on formal rules and institutions is insufficient for understanding the real incentives and constraints that underpin social and economic decisions. Understanding informal institutions becomes more compelling in case of Nigeria, where the informal sector accounts for as much as 57.9% of the GDP. This paper investigates sources of conflict in wet markets and how wet markets as a critical component of the informal sector in Nigeria utilize informal structures, ...