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In randomized control laboratory experiments, we find that those primed to think about markets exhibit more trusting behavior. We randomly and unconsciously prime experimental participants to think about markets and trade. We then ask them to play a trust game involving an anonymous stranger. We...
Persistent link: https://www.econbiz.de/10009320756
economic aspects. Specifically it attempted to classify and measure various types of institutions based on a theoretical …
Persistent link: https://www.econbiz.de/10008476377
In this paper we incorporate the interdisciplinary New Institutional and Transaction Costs Economics (combining Economics, Organization, Law, Sociology, Behavioral and Political Sciences), and suggest a framework for analyzing the mechanisms of governance of sustainable development. The...
Persistent link: https://www.econbiz.de/10004961514
This essay examines the historiography of two episodes in history – the scattering of plots in the open fields in the Middle Ages and the transition to the factory system in the Industrial Revolution – to shed light on the uses of institutional economics in economic history. In both of these...
Persistent link: https://www.econbiz.de/10011079286
” (specific to contractual and free market institutions), on the one hand, and “imposed transaction costs” (according to formal …
Persistent link: https://www.econbiz.de/10010550703
institutional reforms. The recent scientific research on institutions and economic development proves that, by reducing transaction … costs, the institutions that protect the property rights are decisive for economic development. …
Persistent link: https://www.econbiz.de/10010800849
” (specific to contractual and free market institutions), on the one hand, and “imposed transaction costs” (according to formal …
Persistent link: https://www.econbiz.de/10010800856
Institutions affect investment decisions, including investments in human capital. Hence institutions are relevant for … the allocation of talent. Good market-supporting institutions attract talent to productive value-creating activities … individuals are particularly sensitive in their career choices to the quality of institutions, and test these predictions on a …
Persistent link: https://www.econbiz.de/10010720526
Persistent link: https://www.econbiz.de/10010818470
Among economists, the view that precisely defined and reliably enforced property rights are generally conducive to economic growth has been quasi-unanimous. But recently, some authors have argued that the relationship is more complex than previously acknowledged: property rights reforms might,...
Persistent link: https://www.econbiz.de/10010662542