is enormous: billionaires. We explore the relationship between economic development, institutions, and these contrasting … kinds of entrepreneurs. We find that the institutions consistent with self-employed entrepreneurs di¤er markedly from the … ones consistent with billionaires. Further, only the latter are consistent with the institutions that underlie economic …

institutions. We present an alternative way of generalizing the notion of entrepreneurship and show how and why it encompasses the … of institutions constitutes an important set of entrepreneurial profit opportunities. An implication of this is that … entrepreneurial efforts to reform or offset inefficient institutions can in some cases be welfare-improving. …

This paper estimates the effect of trust on internet use by studying the general population as well as second … generation immigrants in 29 European countries with ancestry in 87 nations. There is a significant positive effect of trust on … internet use. The positive trust effect is not universal to all media, as individuals with high trust are shown to consume less …

between cultural background and current institutions, where building trust in Northern Europe is a long process but the …This paper estimates the intergenerational transmission of trust by studying second generation immigrants in 29 … European countries with ancestry in 87 nations. There is significant transmission of trust on the mother’s side. The …

This paper presents evidence that generalized trust promotes health. Children of immigrants in a broad set of European … in trust across countries of ancestry. There is a significant positive estimate of ancestral trust in explaining …. Individuals with higher ancestral trust are also less likely to be hampered by health problems in their daily life, providing …

-formal financial institutions, such as community funds, crowd funding, and social lending intermediaries. …