We use survey data to study American households‘ propensity to default when the value of their mortgage exceeds the value of their house even if they can afford to pay their mortgage (strategic default). We find that 26% of the existing defaults are strategic. We also find that no household...

This chapter analyses some phenomena in organized religion from the point of view of economics. It is argued that religious activity derives from the individual's quest for sense and justification that molds institutional and other features of religious activity, as brought about by competitive...

This is an electronic reprint of a review of the book "Cultures Merging: A Historical and Economic Critique of Culture" by Eric L. Jones, Princeton: Princeton University Press that appeared in the Journal of Institutional and Theoretical Economics 2007, vol. 163, issue 3, pages 526-529, URL...

<Para ID="Par1">This essay examines Virgil Storr’s (<CitationRef CitationID="CR5">2013</CitationRef>) Understanding the Culture of Markets, particularly the relationship between cultures and constitutions and the particulars of the ideal-typical ‘spirit’ of capitalism. Culture cannot be viewed as a constitution, I argue, because of fundamental...</citationref></para>