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theory and to clarify the functioning of institutions, (2) to test the logical consistency of alternative hypotheses about … institutions, and (3) to relate institutionalist theory with other paradigms and to practice an interested pluralism. …
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Institutions are important for proper economic performance, but are replaceable by trust or other social norms. We show that when proper institutions and trust are missing, integrity of the individuals can replace them. We construct a model of a transactions-based economy with contracts...
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The unifying theme of this thesis is the study built around individual heterogeneity. When analyzing the behaviour of economic agents and institutions, the role of individual heterogeneity, various behavioural characteristics receive more attention in scientific research. This thesis can be...
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Trust is a dynamic and complex phenomenon and understanding the factors which affect its formation, evolution and disappearance is a critical research issue. It has been shown that trust plays a key role in how human and social capital develop, how economies grow and how societies progress. In...
Persistent link: https://www.econbiz.de/10013099866
on the other, or division of labour into several levels of management. Agency theory postulates that once incentives are … applying agency theory (Donaldson and Davis, 1991). A single case study of Lumberworks Ltd. is used to explore, validate and … extend these ideas, following the suggestion by Tosi and Gomez Mejia (1989) that there may be need to research agency theory …
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