This chapter focuses on neighborhood effects in housing markets. Households in effect choose neighborhood effects, or more generally social interactions, via their location decisions, which renders them endogenous. Across several classes of models that it examines, it emphasizes how we may...

Unrealistic assumptions underlying neo-classical economic theory have been challenged by both behavioral economics and studies of moral economy. But both challengers share certain features with neo-classical theory. Complementing them, recent work in the anthropology of ethics shows that...

Unrealistic assumptions underlying neo-classical economic theory have been challenged by both behavioral economics and studies of moral economy. But both challengers share certain features with neo-classical theory. Complementing them, recent work in the anthropology of ethics shows that...

This study analyzes the automobile purchase behavior of all residents of two Finnish provinces over several years. Using a comprehensive dataset with location coordinates at the individual consumer level, it finds that the purchases of neighbors, particularly in the recent past and by those who...

This study analyzes the automobile purchase behavior of all residents of two Finnish provinces over several years. Using a comprehensive dataset with location coordinates at the individual consumer level, it finds that the purchases of neighbors, particularly in the recent past and by those who...

This paper suggests that personal trust is best understood is a discursively constructed social relation that arises when interaction between people is governed by the norm of reciprocity (according to which one good turn deserves another and that people should treat others as they themselves...

People are shown to be “more (less) trusting as others are on average more (less) trusting” in a binary-choice-with-social-interactions model that is estimated using cross-section data from more than sixty countries, with mean trust as an explanatory variable. These endogenous effects...

In this paper, we propose a connection model for formation of networks having both positive and negative links. We define utility functions of a node and hence of a network by using balanced and unbalanced triads in the network. Further, using those utility functions we define strongly efficient...

We present a dynamic model of social network formation in which a fixed number of agents interact in overlapping social groups. We derive several results on the formation of links in such networks, including results on the degree distribution, on comparative statics relating degree and group...

The main purpose of this paper is to highlight the different conception of social relations in Chinese Culture and its effect on law of Corporate Governance. In particular this paper first will examine the positive aspects given by the power of social relations to Chinese Corporations, i.e....