Declining general trust has become a serious social issue in China in recent years. This paper attempts to understand and analyze this social phenomenon from a social interaction perspective. Based on a repeated prisoners´ dilemma game on networks, it finds that the evolution of general trust...

Declining general trust has become a serious social issue in China in recent years. This paper attempts to understand and analyze this social phenomenon from a social interaction perspective. Based on a repeated prisoners ́dilemma game on networks, it finds that the evolution of general trust...

This paper studies whether institutions matter for economic performance. For this aim, we first construct a simple framework illustrating how to examine the interaction between institutions and economic performance from a different point of view. Then, using this framework, we introduce an...

This chapter offers a retrospective account of Baumol's contribution in light of its influence on economics and entrepreneurship studies. The first section describes the core arguments of his original paper. The second section discusses its impact on the entrepreneurship discipline. Following...

Institutional change explains the change of institutions considered as rules and expectations that govern human interactions and paths of development in society. This conceptual paper describes, with an historical perspective, the most important definitions of institution and of institutional...

Weak property rights over land prevent efficient allocation of production factors in the developing world. Farmers who lack title secure access to the land they work by providing evidence of productive use. The ``use it or lose it'' principle leads to a thin land rental market and a...

In this paper, we provide a new framework for analyzing corruption in public bureaucracies. The standard way to model corruption is as an example of moral hazard, which then leads to a focus on better monitoring and stricter penalties with the eradication of corruption as the final goal. We...

Why do some societies fail to adopt more efficient political and economic institutions in response to changing economic conditions? And why do such conditions sometimes generate conservative ideological backlashes and, at other times, progressive social and political movements? We propose an...

Why do some societies fail to adopt more efficient institutions in response to changing economic conditions? And why do such conditions sometimes generate ideological backlashes and at other times lead to transformative sociopolitical movements? We propose an explanation that highlights the...

Declining general trust has become a serious social issue in China in recent years. This paper attempts to understand and analyze this social phenomenon from a social interaction perspective. Based on a repeated prisoners´ dilemma game on networks, it finds that the evolution of general trust...