During the hundred-year period from about 1320 to about 1420, the Florentine woollen cloth industry underwent two closely connected crises. The first crisis was the consequence, direct and indirect, of the ravages of warfare and falling population, afflicting the entire Mediterranean basin and...

A recurrent and indeed persistent problem in European economic history – a veritable deus ex machina -- from medieval to modern times, is Europe’s supposed ‘balance of payments’ problem in trade with the ‘East’. This supposed problem has often been couched in Mercantilist overtones:...

This study is a much revised and extended version of two previously issued working papers on the production, sale, and consumption of woollen textiles in England and the Low Countries, from the fourteenth to the sixteenth centuries. It focuses on the hey-day of the production and international...

The Anti-Red Shift -- to the Dark Side: Changes in the Colour Patterns and Market Values of Flemish Luxury Woollens, 1300 - 1550 This study documents, though it cannot fully explain, the striking shift in the spectrum of colour patterns in woollen textiles, from those of the Black Death era in...

If mankind’s three basic necessities have always been food, clothing, and shelter, whose production, trade, and consumption have rightly been a primary focus of economists and economic historians for many generations, we may ask this vital question: how do they distinguish between necessities...

This paper investigates how Confucianism affects individual decision making in Taiwan and in China. We found that Chinese subjects in our experiments became less accepting of Confucian values, such that they became significantly more risk loving, less loss averse, and more impatient after being...

This paper examines the impact of exposure to foreign media on the economic behavior of agents in a totalitarian regime. We study private consumption choices focusing on former East Germany, where differential access to Western television was determined by geographic features. Using data...

We exploit migration patterns from the UK to Australia, South Africa, and the US to investigate whether a person's decision to smoke is determined by culture. For each country, we use retrospective data to describe individual smoking trajectories over the life-course. For the UK, we use these...

Some cultural goods, like clothes and films, are consumed socially and are thus characterized by the same consumption network externalities as languages. At the same time, producers of new cultural goods in any one country draw on the stock of ideas generated by previous cultural production in...

Why are certain movies more successful in some markets than others? Are the entertainment products we consume reflective of our core values and beliefs? These questions drive our investigation into the relationship between a society's oral tradition and the financial success of films. We combine...