Showing 81 - 90 of 225
The importance of social trust on economic growth has been suggested by many empirical works. This paper formalizes the concept of social trust and studies its formation process in a game theoretic setting. It provides plausible explanations for a wide range of empirical and experimental...
Persistent link: https://www.econbiz.de/10005063770
The importance of social trust on economic growth has been suggested by many empirical works. This paper formalizes the concept of social trust and studies its formation process in a game theoretic setting. It provides plausible explanations for a wide range of empirical and experimental...
Persistent link: https://www.econbiz.de/10005091191
This paper establishes a simple model of long run economic and political development, which is driven by the inherent technical features of different production factors, and political conflicts among factor owners on how to divide the outputs. The main capital form in economy evolves from land...
Persistent link: https://www.econbiz.de/10005091210
This paper studies the transition of contract enforcement institutions. The preva- lence of relational contracts, low legal quality, strong cultural preference for personalistic relationships, low social mobility, and highly unequal endowment form a cluster of mutually reinforcing institutions...
Persistent link: https://www.econbiz.de/10005091224
Arguably the fundamental problem faced by employers is how to elicit effort from employees. Most models suggest that employers meet this challenge by monitoring employees carefully to prevent shirking. But there is another option that relies on heterogeneity across employees, and that is to...
Persistent link: https://www.econbiz.de/10005580047
Persistent link: https://www.econbiz.de/10010625486
This paper presents a theory on the endogenous choice of a country's education policy and the two-way causal relationship between trade and education systems. The setting of a country's education system determines its talent distribution and comparative advantage in trade; the possibility of trade...
Persistent link: https://www.econbiz.de/10010584373
In an effort to understand why the relative usage of relational and legal contracts differs across societies, this article builds a political economy model of legal development where legal quality of contract enforcement is a costly public good. It finds that legal investment tends to be too...
Persistent link: https://www.econbiz.de/10010711498
Persistent link: https://www.econbiz.de/10008584580
Parental involvement in matchmaking may distort the choice of spouse because parents are willing to substitute love for market and household production, which are more sharable between parents and their children. This paper finds supportive evidence in a survey of Chinese couples. In both rural...
Persistent link: https://www.econbiz.de/10011183276