standard retail investors. Institutions care about their performance relative to a certain index. Our framework is tractable …, admitting exact closed-form expressions, and produces the following analytical results. We find that institutions optimally tilt … leaving nonindex stocks unaffected. By demanding a higher fraction of risky stocks than retail investors, institutions amplify …

This survey reviews the recent research on trust, institutions and economic development. It discusses the various … institutions and policies can affect trust and promote pro-social behaviors. …