Child labor is a widespread phenomenon and therefore is of interest to both researchers and policy makers. Various reasons for the existence of child labor have been proposed with the goal of designing appropriate solutions. While household poverty is viewed as the main reason for child labor,...

The expansion of welfare-state arrangements is seen as the result of dynamic interaction between market behaviour and political behaviour, often with considerable time lags, sometimes generating either virtuous or vicious circles. Such interaction may also involve induced (endogenous) changes in...

Based on unique data from a representative computer-based survey among financial decision makers in Germany, this paper empirically examines the determinants of socially responsible investments (SRI). Our econometric analysis implies that the perceived financial performance of SRI matters for...

The discipline of Law and Economics seeks to scientifically analyze law. This Article uses the social norms aspect of the Law and Economics field to examine marijuana prohibition in order to show that policymakers should consider changing the law to better account for social norms. First, the...

Over the last couple of decades, it has become a commonplace to claim that institutions matter for economic development. Yet, institutions are not exogenous but the result of human action. It is argued here that the values and norms held by substantial parts of society's members are an important...

How does shame affect social cohesion? Prior work draws divergent conclusions to this question because shame can spur maladaptive behaviors for those who experience it. However, past work has overlooked the interindividual effects of shame –how one’s expression of shame affects those who...