We determine the effect of individual social capital on income in the United States. We use data from the General Social Survey and separate individuals into three different occupation groups: occupations who require continual usage of social capital, such as carpenters and plumbers; occupations...

This book addresses the state-of-the-art initiatives as well as challenges, policy, and strategy issues in developing a digital heritage ecosystem within the broader context of an emerging digital culture. Case studies are drawn from the United States, Europe, and Asia to showcase the breadth of...

Experimental economics is used to investigate two important hypotheses proposed in the economics literature on tournaments. Specifically, we test for a hypothesized “disincentives effect” which can occur in tournaments with mixed ability agents. We also test the well known hypothesis that,...

Using experimental economics, we compare the efficiency and welfare effects of tournaments and fixed performance contracts. Our subjects (agents) were generally better off under fixed performance contracts, but the advantage of the fixed performance contract disappears if the relative magnitude...

We estimate willingness to pay (WTP) to operate under two types of contracts-tournaments (Ts) and fixed performance-standard contracts (F). Our results are consistent with the notion that subjects having social preferences for fairness and care about risk. That is, when subjects experience...

Using experimental economics, we compare the efficiency and welfare effects of tournaments and fixed performance contracts. Our subjects (agents) were generally better off under fixed performance contracts, but the advantage of the fixed performance contract disappears if the relative magnitude...

We estimate willingness to pay (WTP) to operate under two types of contracts—tournaments (Ts) and fixed performance-standard contracts (F). Our results are consistent with the notion that subjects having social preferences for fairness and care about risk. That is, when subjects experience...