POLA02H3 Lecture Notes - Lecture 6: Blood Diamond, Kimberley Process Certification Scheme, De Beers

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26 Oct 2016
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What (cid:272)o(cid:374)su(cid:373)e(cid:396)s (cid:272)a(cid:396)e a(cid:271)out (cid:449)ith dia(cid:373)o(cid:374)ds a(cid:396)e the (cid:1008) c(cid:859)s: clarity, color, cut, carat weight. Activists, like smillie, have been fighting to get consumers to care about a fifth c (cid:862)(cid:272)o(cid:374)fli(cid:272)t(cid:863) Dia(cid:373)o(cid:374)ds a(cid:396)e fo(cid:396)ged deep i(cid:374) the ea(cid:396)th(cid:859)s (cid:272)(cid:396)ust, a(cid:374)d fou(cid:374)d (cid:374)ea(cid:396) the su(cid:396)fa(cid:272)e of (cid:448)ol(cid:272)a(cid:374)os. Diamonds become valuable once they are cut, polished and put in jewelry. Small blemishes and color imperfections can dramatically lower the value of a diamond. Bluenile. com: ou(cid:374)d (cid:862)good(cid:863) (cid:272)ut, (cid:1004). (cid:1009)(cid:1004) (cid:272)a(cid:396)at, (cid:272)olo(cid:396) (cid:862)j(cid:863) (cid:894)(cid:862)(cid:374)ea(cid:396) (cid:272)olo(cid:396)less/slightl(cid:455) ti(cid:374)ted(cid:863)(cid:895), l1 clarity = , a(cid:373)e size, (cid:396)ou(cid:374)d (cid:862)ideal (cid:272)ut, (cid:272)olo(cid:396) (cid:862)d(cid:863), if (cid:272)la(cid:396)it(cid:455) = ,(cid:1007)9(cid:1004, 1 carat ranges from 3k-20k. What is necessary to build a big diamond mine: capital, risk. If the dia(cid:373)o(cid:374)d salespe(cid:396)so(cid:374) tells (cid:455)ou that a ge(cid:373) is (cid:862)(cid:374)ea(cid:396) (cid:272)olo(cid:396)less(cid:863) a(cid:374)d (cid:272)la(cid:396)it(cid:455) is (cid:396)ated if, why might you have reason to distrust his assessment: principle agent problem. What type of costs tend to be high in consensus decision-making: transaction costs.

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