In this paper we obtain the value that experimental subjects attach to a prisoners’ dilemma game by applying a related procedure to BDM (1964). We also obtain the value of a closely related game which does not incorporate any social dilemma. By comparing both values, we are able to classify...

We explore the exercise of power in perpetuating status quo institutions. We give empirical examples of the economic importance of power and offer a definition of this elusive term. We then investigate the role of power in a modern capitalist economy, borrowing ideas from the classical...

This paper studies the evolution of political institutions in the face of conflict. We examine institutional reform in a class of pivotal mechanisms -- institutions that behave as if the resulting policy were determined by a "pivotal" decision maker drawn from the potential population of...

This article shows within a simple growth model how the make up of society affects economic performance when property rights are unenforceable. It investigates behavior of non-cooperative social groups that consume, produce, and appropriate resources either peacefully or through contest. For the...

На основе социально-экономической стратификации субъектов сообщества, которыми могут быть индивиды, фирмы, организации, компании и даже государства, и на основе...

Одной из форм социального протеста являются протестные настроения населения, т. е. проявление крайнего недовольства своим положением в сложившейся ситуации. В...

This paper shows how a world price shock can increase the likelihood that democratization must be used to resolve the threat of revolution. Initially, a ruling elite may be able to use trade policy to maintain political stability. But a world price shock can push the country into a situation...

The aim of the paper is to provide an explanation of involuntary unemployment in a classical (post-Ricardian) framework. The model describes a three-stage bargaining process with four agents (governments, firms, unions, workers). In the first stage, firms determine the wage offered, following a...

Veblen is a systematic economic theorist whose economic views run in parallel with those of his contemporaries. Also, his economic analysis is important for Marx's system. Veblen's economic theory as analyzed here consists of four basic components: reserve capacity, markup pricing, productivity,...

This article examines the role of social conflict in explaining macroeconomic phenomena and, especially, the effectiveness of aggregate demand policies as a means of raising real output. The social conflict approach is compared with a traditional Keynesian view along with Ball, Mankiw, and...