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provide an explanation of why small countries sometimes exclude certain goods (especially those related to culture) from trade …
Persistent link: https://www.econbiz.de/10010261231
Does culture have a causal effect on economic development? The data on European regions suggest that it does. Culture … individual self-determination. To isolate the exogenous variation in culture, I rely on two historical variables used as … level. The exogenous component of culture due to history is strongly correlated with current regional economic development …
Persistent link: https://www.econbiz.de/10010261295
According to the widely known ‘culture of honor’ hypothesis from social psychology, traditional herding practices have …
Persistent link: https://www.econbiz.de/10013308100
Four types of economics" relevant for institutional analysis are distinguished: Standard Neoclassical Economics; Socio-Economics or Social Economics; New Institutional Economics; and Psychological Economics (often misleadingly called Behavioural Economics). The paper argues that an extension of...
Persistent link: https://www.econbiz.de/10010265966
governments of Europe spend substantial resources on culture and cultural sectors contribute significantly to employment and … of culture, valid and invalid arguments for subsidising culture are discussed. Although it is easy to justify government … of E-culture classic public-good arguments for government intervention in broadcasting and other cultural activities …
Persistent link: https://www.econbiz.de/10010261319
Recent theoretical contributions depart from the usual practice of treating individual attitude endowments as a black box, by assuming that these are shaped by the attitudes of parents and other role models. Attitudes include fundamental preferences such as risk preference, and crucial beliefs...
Persistent link: https://www.econbiz.de/10010264365
I report historical prices and estimate financial returns to investing in rare books. My sample consists of 25 fiction titles recommended by Clifton Fadiman in his 1960 Lifetime Reading Plan. Relying on prices realized at American and British auction houses between 1975 and 2018, I use hedonic...
Persistent link: https://www.econbiz.de/10012227642
Trust between parties should drive the negotiation and design of contract: if parties did not trust each others' reaction to unplanned events, they might agree to pay higher costs of negotiation to complete contracts. Using a unique sample of U.S. principal-agent consulting contracts and a...
Persistent link: https://www.econbiz.de/10012425620
For centuries, Jews in Europe have specialized in financial services. At the same time, they have been the victims of historical antisemitism on the part of the Christian majority. We find that present-day financial development is lower in German counties where historical antisemitism was...
Persistent link: https://www.econbiz.de/10011744949
Rare books of political economy are eminently collectable. Using historical prices, I employ hedonic regressions to estimate financial returns to collecting the works of ten eminent political economists and develop a price index for this corpus of collectables. For the observation period...
Persistent link: https://www.econbiz.de/10012581973