The idea of an identifiable school of thought denoted as Virginia political economy was in play at least as early as 1963, and it is reasonable to conclude that this identifier began to take shape some years earlier. It is common though not universal to identify a school of thought...

Democratic governments can be either national or federal in form. Whether the form of democracy matters, how it matters if, indeed, it does matter, and for whom it might matter are the types of questions this paper explores. Federalism is generally described as a pro-liberty form of government....

Coordination games have become a critical tool of analysis in fields such as development and institutional economics. Understanding behavior in coordination games is an important step towards understanding the differing success of teams, firms and nations. This paper investigates the...

Expositions of the theory of public finance mostly assume that taxation must be the primary instrument for generating revenue. This assumption is neither historically accurate nor theoretically necessary. Rather, it universalizes an institutional arrangement that is particular to the...

How did modern and centralized fiscal institutions emerge? We develop a model that explains (i) why pre-industrial states relied on private individuals to collect taxes; (ii) why after 1600 both England and France moved from competitive methods for collecting revenues to allocating the right to...

Self-governance of common pool resources is presumed to work well in small, homogeneous communities where interaction is repeated, agents have low discount rates, and information about past performance is available. It is presumed to work poorly elsewhere. This paper provides a case study of...

Building on theoretical and empirical literatures showing that choices not only reflect but also create preferences, we develop a two-stage incentivized intervention to promote pro-sociality. In the first stage, participants are incentivized to complete a compound task consisting of a targeted...

Communication between departments within a firm may include deception. Theory suggests that telling lies in these environments may be strategically optimal if there exists a small difference in monetary incentives (Crawford and Sobel, 1982; Galeotti et al, 2012). We design a laboratory experiment to...

This paper argues that government and market institutions when interacting with one another lead to the generation of a network effect in property value. Using data from the Florida Department of Revenue on market value assessments of homes in 17 counties, I find that living in a basic governing...

In 2014, the State Council of the Chinese Communist Party announced the institution of a social credit system by 2020, a follow-up to a similar statement on the creation of a social credit system issued by the State Council in 2007. Social credit ratings of the type being developed by the State...