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persistence than previously thought. Finally, we show that persistence is “culture specific" in the sense that the country from …
Persistent link: https://www.econbiz.de/10011083563
We investigate the Hartwick rule for saving of a nation necessary to sustain a constant level of private consumption for a small open economy with an exhaustible stock of natural resources. The amount by which a country saves and invests less than the marginal resource rents equals the expected...
Persistent link: https://www.econbiz.de/10005662316
Many resource-rich countries have poor economic performance and suffer from negative genuine saving rates, especially if they have many rival factions and badly functioning legal systems. We attempt to shed light on these stylized facts by analyzing a power struggle about the control of natural...
Persistent link: https://www.econbiz.de/10005791473
This paper discusses recent neuroeconomic evidence related to other-regarding behaviours and the decision to trust in other people’s other-regarding behaviour. This evidence supports the view that people derive non-pecuniary utility (i) from mutual cooperation in social dilemma (SD) games and...
Persistent link: https://www.econbiz.de/10005497729
We study the effect of civil conflict on social capital, focusing on the experience of Uganda during the last decade. Using individual and county-level data, we document large causal effects on trust and ethnic identity of an exogenous outburst of ethnic conflicts in 2002-05. We exploit two...
Persistent link: https://www.econbiz.de/10011083530
It is a persistent finding in psychology and experimental economics that people's behavior is not only shaped by outcomes but also by decision-making procedures. In this paper we develop a general framework capable of modelling these procedural concerns. Within the context of psychological games...
Persistent link: https://www.econbiz.de/10005039581
Despite strong growth performance in transition economies in the last decade, residents of transition countries report abnormally low levels of life satisfaction. Using data from the World Values Survey and other sources, we study various explanations of this phenomenon. First, we document that...
Persistent link: https://www.econbiz.de/10005667036
This paper experimentally studies the effects of competition in an environment where people's actions can not be contractually fixed. We find that, in comparison with no competition, the presence of competition does neither increase efficiency nor does it yield any gains in earnings for the...
Persistent link: https://www.econbiz.de/10005123778
Do religious beliefs affect real economic decisions? We investigate this fundamental question by comparing default rates on conventional and Islamic loans using a comprehensive monthly dataset from Pakistan that follows more than 150,000 loans over the period 2006:04 to 2008:12. We find robust...
Persistent link: https://www.econbiz.de/10009209832
model explains the economic origins of culture. It was no accident that the intricate steps of tango emerged in the shabby …
Persistent link: https://www.econbiz.de/10005504741