This paper examines the impact and diffusion of the gasoline tractor in American agriculture. A key feature of the transition from horses to tractors was a long intermediate stage when both modes of power were used on the same farm. This is largely explained in the technical limitations of early...

In this paper we examine the discrepancy between theoretical predictions of unstable majorities and observed stability. Minimum winning coalitions divide program benefits among their members, creating incentives for those left out to entice defection by offering rewards to those who leave and...

One of the central concepts of classical liberal economic thought is the superiority of free trade over protectionism. The key historical event leading to the dissemination of this idea was the activity of Richard Cobden and the Anti-Corn Law League in Britain in the 1840s. This paper explores...

Between 1928 and 1960 U.S. cotton production witnessed a revolution with average yields increasing roughly threefold. In addition, the average staple length of the U.S. crop increased significantly, reversing a long-run downward trend in cotton quality. Underlying these accomplishments were...

This article reports on a survey of a large number of undergraduate students in the U.S. They were queried about whether they preferred living in a society where they had high relative income (status) but low purchasing power or a society where they have low status, but high purchasing...

The paper provides an integrated framework to assess water markets in terms of their institutional underpinnings and the three ‘pillars’ of integrated water resource management: economic efficiency, equity and environmental sustainability. This framework can be used: (1) to benchmark...

Ever since the early days of National Income accounting we can observe periodic surges of demands to fix the measurement of GDP to better reflect progress, welfare or even happiness. In recent years even Presidents and Prime Ministers in Europe have joined the chorus of the discontent. In this...

This study examines the factors affecting modes of commercializing patented inventions using a novel dataset based on a survey of U.S. inventors. We find that technological uncertainty and possessing complementary assets raise the propensity for internal commercialization. We find that R&D...

The objective is to examine the determinants of the relationship between insurance growth and economic development. This paper contributes to this body of research by providing an extensive literature review of empirical studies that have looked at both sides of the relationship, i.e. the demand...

Indirect reciprocity is generally considered one of the leading mechanisms to explain how cooperation may emerge by natural selection. The basic intuition is that establishing a reputation of being a helpful individual increases the probability of being in turn helped. Two models have been...