U.S. states with a high level of trust specialize in industries that involve more complex input-output relationships. This specialization pattern is not driven by differences in the states' and industries' other observable characteristics. While it is possible that specialization in complex...

We examine the risky choices of pairs of contestants in a popular radio game show in France. At one point during the COVID-19 pandemic the show, held in person, had to switch to an all-remote format. We find that such an exogenous change in social context affected risk-taking behavior. Remotely,...

We examine the risky choices of pairs of contestants in a popular radio game show in France. At one point during the COVID-19 pandemic the show, held in person, had to switch to an all-remote format. We find that such an exogenous change in social context affected risk-taking behavior. Remotely,...

Using firm and industry data, we establish two facts: (i) Uncertainty about demand conditions not only reduces export sales and exporting probabilities but also makes exports less sensitive to trade policy; (ii) the most productive exporters are more affected by higher industry-wide expenditure...

In this paper, we show that trust favors specialization in complexity. U.S. states with a high level of generalized trust tend to specialize in industries involving more complex input-output relationships. This pattern is not driven by differences in the states’ other observable...