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Joint Ventures as a Commitment Device Against Lobbies

Berardi, Nicoletta; Seabright, Paul - C.E.P.R. Discussion Papers - 2010

This paper investigates a hitherto unexplored rationale for firms to enter into joint ventures. We model risky projects with autocorrelated productivity shocks as creating an option value of investing over time so that later investments benefit from the information revealed by the realization of...

Persistent link: https://www.econbiz.de/10008468544

Religion and Innovation

Bénabou, Roland; Ticchi, Davide; Vindigni, Andrea - C.E.P.R. Discussion Papers - 2015

In earlier work (Bénabou, Ticchi and Vindigni 2013) we uncovered a robust negative association between religiosity and patents per capita, holding across countries as well as US states, with and without controls. In this paper we turn to the individual level, examining the relationship between...

Persistent link: https://www.econbiz.de/10011213308

Culture, Institutions and Democratization

Gorodnichenko, Yuriy; Roland, Gérard - C.E.P.R. Discussion Papers - 2015

We construct a model of revolution and transition to democracy under an individualistic and a collectivist culture. The … culture are more likely to end up adopting democracy faster than countries with a collectivist culture. Our instrumental … variable estimation suggests a strong and robust effect of individualistic culture on average polity scores and length of …

Persistent link: https://www.econbiz.de/10011266531

Product-Based Cultural Change: Is the Village Global?

Maystre, Nicolas; Olivier, Jacques; Thoenig, Mathias; … - C.E.P.R. Discussion Papers - 2009

This paper makes three contributions to the growing literature on culture and economics. Using answers to the World … cultural distance; (iii) trade openness has a lock-in effect on culture. Third, we test the model using an instrumental …

Persistent link: https://www.econbiz.de/10005082538

When the State Mirrors the Family: The Design of Pension Systems

Galasso, Vincenzo; Profeta, Paola - C.E.P.R. Discussion Papers - 2011

We study how the prevailing internal organization of the family affected the initial design of pension systems. Our theoretical framework predicts that, in society with weak family ties, pensions systems were introduced to act as a safety net, while in societies with strong ties they replicate...

Persistent link: https://www.econbiz.de/10009399717

Does Culture Matter?

Fernández, Raquel - C.E.P.R. Discussion Papers - 2010

This paper reviews the literature on culture and economics, focusing primarily on the epidemiological approach. The … effect of culture from the original economic and institutional environment. This approach has been used to study a variety of …

Persistent link: https://www.econbiz.de/10008466325

The Scope of Cooperation: Values and incentives

Tabellini, Guido - C.E.P.R. Discussion Papers - 2007

What explains the range of situations in which individuals cooperate? This paper studies a theoretical model where individuals respond to incentives but are also influenced by norms of good conduct inherited from earlier generations. Parents rationally choose what values to transmit to their...

Persistent link: https://www.econbiz.de/10005666501

Long Term Persistence

Guiso, Luigi; Sapienza, Paola; Zingales, Luigi - C.E.P.R. Discussion Papers - 2008

’s conjecture that today marked differences in social capital between the North and South of Italy were due to the culture of …

Persistent link: https://www.econbiz.de/10005789085

Social Capital as Good Culture

Guiso, Luigi; Sapienza, Paola; Zingales, Luigi - C.E.P.R. Discussion Papers - 2008

To explain the extremely long-term persistence (more than 500 years) of positive historical experiences of cooperation (Putnam 1993), we model the intergenerational transmission of priors about the trustworthiness of others. We show that this transmission tends to be biased toward excessively...

Persistent link: https://www.econbiz.de/10005791467

Like Mother Like Son? Experimental Evidence on the Transmission of Values from Parents to Children

Cipriani, Marco; Giuliano, Paola; Jeanne, Olivier - C.E.P.R. Discussion Papers - 2007

This paper studies whether prosocial values are transmitted from parents to their children. We do so through an economic experiment, in which a group of Hispanic and African American families play a standard public goods game. The experimental data presents us with a surprising result. We find...

Persistent link: https://www.econbiz.de/10005791784