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Political power, resistance to technological change and economic development : evidence from the 19th century Sweden

Tyrefors, Björn; Lindgren, Erik; Pettersson-Lidbom, Per - 2017 - This version: June 16, 2017

We analyze investment decisions when information is costly, with and without delegation to an agent. We use a rational-inattention model and compare it with a canonical signal-extraction model. We identify three "investment conditions". In "sour" conditions, no information is acquired and no...

Persistent link: https://www.econbiz.de/10011667675

The Protestant Ethic and the Spirit of Capitalism the Haugian Way

Grytten, Ola Honningdal - 2012

On the basis of available sources the present paper seeks to map entrepreneurial industrial activities the Norwegian puritan revivalist Hans Nielsen Hauge (1771-1824) was involved in and quantify his financial activities. It also tries to map entrepreneurial activities by his followers. The...

Persistent link: https://www.econbiz.de/10013108162

When Pro-Poor Microcredit Institutions Favor Richer Borrowers - A Moral Hazard Story

Biancini, Sara; Venet, Baptiste; Ettinger, David - 2021

We suggest an explanation for the existence of “mission drift”, the tendency for Microfinance Institutions (MFIs) to …

Persistent link: https://www.econbiz.de/10013245624

“Civilized Dispossession” : Corporate Accumulation at the Dawn of Modern Capitalism

Lent, Wim van; Islam, Gazi; Chowdhury, Imran - 2021

Critical scholarship views corporate accumulation – a fundamental driver of capitalism – as inherently dispossessive, involving violence and expropriation. However, dispossession also involves practices of legitimation that are related to coercive violence in complex ways. We examine the...

Persistent link: https://www.econbiz.de/10014031164

Causality in the Time of Cholera : John Snow As a Prototype for Causal Inference

Coleman, Thomas - 2019

The story of John Snow's 1855 treatise "On the mode of communication of cholera" is a rollicking good tale – full of heroism, death, and statistics. But more fundamentally Snow's work is a sustained effort to convince skeptics, through argument and a wide variety of evidence, of the waterborne...

Persistent link: https://www.econbiz.de/10014110898

Real Contracts and Mistaken Wages : The Organisation of Work and Pay in London Building Trades 1650-1800

Stephenson, Judy Z. - 2016

Existing series suggest wages in London were substantially higher than in other European cities from 1650 to 1800. This paper presents new evidence from the construction sites that supplied the underlying wage data, and uncovers the contractual and organisational context in which it was...

Persistent link: https://www.econbiz.de/10013000200

The Commonwealth as an Economic Network

Singleton, John - 2012

Research on the economics and sociology of business networks also sheds light on the development of networks of countries. The British Commonwealth was an important global network, or group of networks, in the mid-twentieth century. Commonwealth members, including Australia and New Zealand,...

Persistent link: https://www.econbiz.de/10013116542

Social Identity and Group Lending

Chatterjee, Prabirendra; Sarangi, Sudipta - 2005

The success of joint liability programs depends on nature and composition of borrowing groups. Group formation is a costly process and in our model these costs vary with the social identity of group partners. We show that risk heterogeneity in a borrowing group may arise due to the social...

Persistent link: https://www.econbiz.de/10014065119

Group lending versus individual lending in microfinance

Lehner, Maria - 2009

Microfinance is typically associated with joint liability of group members. However, a large part of microfinance … contracts. Moreover, we show that microfinance institutions offer group loans when the loan size is rather large, refinancing … costs are high, and competition between microfinance institutions is low. Otherwise, individual loans are offered …

Persistent link: https://www.econbiz.de/10003935668

When pro-poor microcredit institutions favor richer borrowers : a moral hazard story

Biancini, Sara; Ettinger, David; Venet, Baptiste - 2021

We suggest an explanation for the existence of "mission drift", the tendency for Microfinance Institutions (MFIs) to …

Persistent link: https://www.econbiz.de/10012433762