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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. …
Persistent link: https://www.econbiz.de/10011781163
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...
Persistent link: https://www.econbiz.de/10003872201
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...
Persistent link: https://www.econbiz.de/10013157500
Persistent link: https://www.econbiz.de/10009125768
We analyze investment decisions when information is costly, with and without delegation to an agent. We use a rational-inattention model and compare it with a canonical signal-extraction model. We identify three "investment conditions". In "sour" conditions, no information is acquired and no...
Persistent link: https://www.econbiz.de/10011667675
diverse factors might affect people’s institutional confidence in China and Taiwan. The empirical results reveal that Chinese … have higher degrees of trust toward both public and private institutions. Additionally, Chinese have higher confidence in … ones. We also find that Chinese confidence in public institutions is associated with younger generation, better education …
Persistent link: https://www.econbiz.de/10014178447
Persistent link: https://www.econbiz.de/10014419231
This survey reviews the recent research on trust, institutions and growth. It discusses the various measures of trust and documents the substantial heterogeneity of trust across space and time. The conceptual mechanisms and the methods employed to identify the causal impact of trust on economic...
Persistent link: https://www.econbiz.de/10013035397
This paper analyses the connection between legal origins and generalized trust. Based on recent results of institutions and trust research it argues that legal origins and trust are connected via the beliefs of agents. Next, it develops hypotheses about a complex and self-reinforcing causal...
Persistent link: https://www.econbiz.de/10009563444
This survey reviews the recent research on trust, institutions and growth. It discusses the various measures of trust and documents the substantial heterogeneity of trust across space and time. The conceptual mechanisms and the methods employed to identify the causal impact of trust on economic...
Persistent link: https://www.econbiz.de/10009763283