some issues that are significantworldwide, especially in Africa. It emphasises how the debate has movedalong in terms of …

economic development and the dynamics of inequality withinand across societies. The study argues that entrepreneurial spirit … evolved non-monotonicallyin the course of human history. In early stages of development, risk-tolerant, growthpromoting traits … process of economic development. Inmature stages of development, however, risk-averse traits gained an evolutionary advantage …

In order to understand inefficient institutions, one needs to understand what mightcause the breakdown of a political … powerand distribution where institutions (the \rules of the game") are set to maximize payoffsof those individuals in power …. Equilibrium institutions arethe fixed point of this constrained maximization problem. This model can be appliedto different …

We analyze the role of risk-sharing institutions in transitions to modern economies.Transitions requires individual …-level, idiosyncratic risk implies thatdistinct risk-sharing institutions – even those providing the same level of insurance – can leadto … model incorporating England’s andChina’s distinct pre-modern risk-sharing institutions. The model predicts a transition …