In this paper we explore the possibility, heretofore unexplored in the marketing literature, that firms “invest funds” in their pricing processes. This builds on some of the recent economic work on the costs of price adjustment. To do this we undertook a two-year, cross- disciplinary,...

The paper underlines the division of labour principle for understanding the development of the entrepreneurial process within a social network; the principal background premise is that the two crucial factors affecting the entrepreneur when he is creating a new business are his previous...

Legal profession represents a key labor sector whether in politics or business in any developed or underdeveloped country. What resources do lawyers use for matching the demand to their own services’ supply? Private sector lawyers make use of their level of human capital and their social...

This paper investigates the determinants of TFP for Italian regions. We find strong evidence in favour of the factors commonly suggested by the theoretical literature. In particular, R&D expenditures and the number of researchers are positively related to regional TFP. Moreover, human capital is...

Studies in the social capital literature have documented two stylised facts: first, a decline in measures of social participation has occurred in many OECD countries. Second, and more recently, the success of social networking sites (SNSs) has resulted in a steep rise in online social...

The main idea behind this paper is that social capital is not, as generally suggested by the socio-economic literature, an individual attitude towards something which does not imply privately appropriable economic benefits. Actually, SC might and should be interpreted as a public component of an...

This paper carries out an empirical assessment of the relationship between social capital and labour productivity in small and medium enterprises in Italy. By means of structural equations models, the analysis investigates the effect of different aspects of the multifaceted concept of social...

Experimental and observational studies have highlighted the importance of agents being conditionally cooperative when facing a social dilemma. We formalize this mechanism in a theoretical model that portrays a small community having joint access to a common pool resource. The diffusion of norms...

By studying the interaction between social capital and decentralization, we show that political decentralization can be a source of divergence across heterogeneous regions. In particular, we claim that since the local endowments of social capital display their effect on the economy mainly...

In this paper, we empirically investigate a channel through which social capital may improve economic wellbeing and the functioning of institutions: political accountability. The main idea is that voters who share norms of generalized morality demand higher standards of behavior on their elected...