Economists have been reluctant to rely on culture as a possible determinant of economic phenomena. The notion of … culture is so broad and the channels through which it can enter the economic discourse so vague that it is difficult to design … testable hypotheses. In this paper we show this does need to be the case. We introduce a narrower definition of culture that …

instrumented with its cultural determinants. We conclude that perceptions rooted in culture are important (and generally omitted …

While both cultural and legal norms (institutions) help foster cooperation, culture is the more primitive of the two … makes it difficult to identify the role played by culture. Cultural changes and their effects are easier to identify in … simpler, more controlled, environments, such as corporations. Corporate culture, thus, is not only interesting per se, but …