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theory and to clarify the functioning of institutions, (2) to test the logical consistency of alternative hypotheses about … institutions, and (3) to relate institutionalist theory with other paradigms and to practice an interested pluralism. …
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Institutions are important for proper economic performance, but are replaceable by trust or other social norms. We show that when proper institutions and trust are missing, integrity of the individuals can replace them. We construct a model of a transactions-based economy with contracts...
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Recent studies have analysed the economic benefits of belonging to high-trust networks and the biological foundations of individual trust, but much scepticism remains regarding the precise role of trust in economic transactions, as well as gaps between micro and macro concepts of trust. This...
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diverse factors might affect people’s institutional confidence in China and Taiwan. The empirical results reveal that Chinese … have higher degrees of trust toward both public and private institutions. Additionally, Chinese have higher confidence in … ones. We also find that Chinese confidence in public institutions is associated with younger generation, better education …
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