In modern economies an increased utilisation of more and more advanced technologies as well as the more intensive use of physical and human capital can be observed. In this regard, the economic development of Taiwan is considered to be a complementary process of capital accumulation, innovation...

Through a comparative, longitudinal analysis of the wine industry in two Argentine provinces, this article examines how different political approaches to reform shape the ability of societies to build new institutions for economic upgrading. The article finds that inherited structural factors...

Do we praise altruistic acts because they produce social benefits or because they entail a personal sacrifice? Across five studies, we find that people mainly rely on personal cost rather than social benefit when evaluating prosocial actors. This occurs because sacrifice, but not benefit, is...

Questions remain as to whether results from experimental economics games are generalizable to real decisions in non-laboratory settings. Furthermore, important questions persist about whether social capital can help solve seemingly missing credit markets. I conduct two experiments, a Trust game...

This paper presents two key points. First, nature does not need humans, but not vice versa. Second, humankind currently violates the asymmetrical value relationship between people and nature. Regrettably, it seems that many economists who play an important role in devising policies but their...

What is the role of entrepreneurship in economic development from the perspective of neo-austrian and new institutional economics and what is the difference between these approaches? Neo-austrian economists claim that economic development is caused by entrepreneurial discovery. New institutional...

This paper examines the role of other-regarding and time preferences for cooperation in the field. We study the preferences of fishermen whose main, and often only, source of income stems from using a common pool resource (CPR). The exploitation of a CPR involves a negative interpersonal and...

This paper examines the role of other-regarding and time preferences for cooperation in the field. We study the preferences of fishermen whose main, and often only, source of income stems from using a common pool resource (CPR). The exploitation of a CPR involves a negative interpersonal and...

The joint liability literature claims that positive assortative matching, or risk homogeneity, is always the first best solution. We examine this claim in presence of group formation costs and find that the assertion is not always true.