Despite many approaches of neoclassical and endogenous growth theory, economists still face problems in explaining the reasons for income differences between countries. Institutional economics and the deep determinants of growth literature try to depart from pure economic facts to examine...

We propose a construct, the Trust Triangle, that highlights three primary mechanisms that provide ex post accountability for opportunistic behavior and motivate ex ante trust in economic relationships. The mechanisms are: (i) a society's legal and regulatory framework, (ii) market-based...

During these times, the resilience of humankind is put to the test by the ravages of COVID-19. Besides the virus, endemic corruption becomes pandemic since some individuals seek unethical gains and peril others' lives, engaging in corrupt, fraudulent behaviors. The East European countries have...

Institutions are important for proper economic performance, but are replaceable by trust or other social norms. We show that when proper institutions and trust are missing, integrity of the individuals can replace them. We construct a model of a transactions-based economy with contracts...

Despite the many approaches of neoclassical and endogenous growth theory, economists still face problems explaining the reasons for income differences between countries. Institutional economics and the deep determinants of growth literature try to depart from pure economic facts to examine...

It is now abundantly clear that social norms channel behavior and impact economic development. This insight leads to the question: How do social norms evolve? This survey examines research that relies on geography to explain the development of social norms, and suggests that religion and family...

The present study is part of a much larger study that examined the ethics of bribery and the ethics of tax evasion from a variety of perspectives. Data were taken from the most recent Wave of the World Values Survey. Data were collected in 82 countries. Participants were asked how frequently...

The present study is part of a much larger study that examined the ethics of bribery and the ethics of tax evasion from a variety of perspectives. Data were taken from the most recent Wave of the World Values Survey. Data were collected in 56 countries. Participants were asked how risky is it to...

The present study is part of a much larger study that examined the ethics of bribery and the ethics of tax evasion from a variety of perspectives. Data were taken from the most recent Wave of the World Values Survey. The survey asked individuals in 52 countries how frequently ordinary people pay...

Modern economics includes two fundamentally different fields, each labelled ‘Cultural Economics’. The first type ‘Cultural Institutions’ deals with a specific sector of the economy and society, namely institutions in the performing arts, visual arts, and other forms of cultural industry....