Search

This article examines ‘the economics of singularities’ by Lucien Karpik, which is a sociological theory explaining the functioning of markets for a specific type of goods, labeled as ‘singularities’, defined according to three criteria: the plurality of qualities, quality uncertainty and the primacy of quality. According to Lucien Karpik, singularities complement the typology of goods traditionally used by economists, consisting of homogeneous and differentiated goods. He argues that singularities represent a ‘blind spot’ of what he calls ‘neoclassical economic theory.’ According to him, while neoclassical economic theory is adequate for studying homogeneous and differentiated goods, an autonomous framework is indispensable for studying singularities. In this article, we propose a comprehensive overview of the economics of singularities, and we formulate a critique of Karpik’s positioning in relation to neoclassical economic theory. [ABSTRACT FROM AUTHOR]

Intermittent or multifractal behavior has been reported in various markets, and the impact of the COVID-19 pandemic has been investigated. However, the impact of the COVID-19 pandemic on global spot markets for staple foods has not yet been studied. We fill this gap by investigating the grain and oilseeds index (GOI) and its five sub-indices, wheat, maize, soybean, rice, and barley, released by the International Grains Council (IGC). We perform statistical tests on the presence of intrinsic multifractal behavior in subsamples before and during the COVID-19 pandemic using five multifractal analysis approaches. The results show that intrinsic multifractality is less likely in the (sub-)samples of rice and soybean, whereas the (sub-)samples of wheat and maize are more likely to possess multifractal nature. Only some (sub-)samples showed that the subsamples during COVID-19 were more intermittent than the subsamples before COVID-19.

This article examines the role of gender equality considerations in economic policy from the perspective of women economists in central economic agencies in government service in Israel. It asks whether and under what circumstances women economists promote policies aiming to reduce gender inequality or benefit women. Using qualitative research tools, the study reveals that women economists view the incorporation of gender equality into economic policy as insignificant and marginal. Gender equality is perceived as a narrow issue, specific and sectoral, while the core issues dealt with by economists are considered broad and universal. The findings are consistent with previous research claiming that placing women in influential positions does not ensure representation of gendered interests, as gender plays a secondary role to training, education, and institutional context. The findings indicate that the claim of neutrality in diverse aspects of economics limits women economists’ activity and thwarts unfettered thinking on economic policy.HIGHLIGHTSIn Israel, gender plays a marginal role in women economists’ policymaking.Spaces for training and learning in economics remain fundamentally gender biased.Neutrality perception limits critical feminist thinking on economic policy.Including feminist perspectives in economic education is vital.In Israel, gender plays a marginal role in women economists’ policymaking.Spaces for training and learning in economics remain fundamentally gender biased.Neutrality perception limits critical feminist thinking on economic policy.Including feminist perspectives in economic education is vital. [ABSTRACT FROM AUTHOR]

This article investigates how the type of elite to which a person belongs and their intergenerational contextual experiences are associated with attitudes towards inequality among elite individuals. We propose that membership of the economic elite and access to private schools, higher education business schools and affluent residential areas may contribute to the development of views that favour inequality. Using unique survey data collected in 2018 from a sample of 416 individuals belonging to Chile's economic, political and cultural elites, we construct an additive score to measure attitudes towards inequality. Results of our regression analyses indicate that individuals belonging to the economic and political elite are more tolerant of inequality than members of the cultural elite. Moreover, intergenerational experiences at both private schools and higher education business schools significantly contribute to the formation of attitudes that favour inequality. These contextual experiences also relate to significant attitudinal variations within all elite groups. [ABSTRACT FROM AUTHOR]

We posit that prices are signs, not just signals, that work in the same symbolic way as words. Both are complex, generative systems of shared meaning that rely on a web of intricate symbolic references. Just like the meaning of a word is a product of our social and linguistic action, the meaning of a price is a product of our relationship to the physical world phenomena of people in markets. The fundamental conception of both is to communicate and construct worlds with ourselves and others, enabling us to act in the world. Prices, like words, do symbolic work. [ABSTRACT FROM AUTHOR]

Commemorative stamps have a place in the cultural, economic, and geopolitical status of a nation; and what is printed on stamps often reflects a country's culture, regime, and values. Whilst stamps can celebrate monuments, flora and fauna, and points in a nation's history; they are also a source of recognition, celebrating the contribution of key figures and their performance in areas deemed significant to a nation. In this empirical study, we analyse commemorative stamp data in a cross-sectional setting to understand key determinants that shape their provision. The award literature has developed propositions that have not yet been tested empirically. We find evidence that the political process and regime influences the use of postage stamps as a recognition tool and a country's governance, matters. For example, controlling for regime, more corrupt countries are more likely to use stamps to recognize personalities. However, the researchers note that democratic regimes frequently use stamps as a recognition tool. We find that cultural factors and ideologies show substantial heterogeneity in their influence, while factors such as fractionalization or income inequality do not seem to matter. Factors such as personal and impersonal pro-sociality or creativity reduces the utilization of stamps as a recognition tool, while other factors such as market orientation, individualism, or traditionalism encourage the use of stamps to recognize individuals. Overall, we find that some results are consistent with the theoretical propositions while others are not, requiring more empirical evidence and a better understanding of how stamps differ from other recognitions. [ABSTRACT FROM AUTHOR]

Despite the notable progress that has been made in bridging the gap between women and men in the world of work, women are still underrepresented in many occupations. In this article, the effect of gender norms on whether women enter male-dominated occupations is analysed using differences in gender equality among early-arrival migrants. The variations in gender norms according to the cultural backgrounds of those migrants by country of origin are exploited to identify their impact on occupational choices. Using data from the American Community Survey, it is found that greater gender equality in the country of origin reduces the gender gap in male-dominated occupations. Suggestive evidence is further shown on the roles of job flexibility and women's relative preferences for family-friendly jobs in shaping gender-based sorting across occupations. [ABSTRACT FROM AUTHOR]

We assemble homeowner insurance claims from 28 independently operated country subsidiaries of a multinational insurance firm. We propose a new insurance model, in which consumers can make invalid claims and firms can deny valid claims, as is common in the data. In the model, trust and honesty shape equilibrium insurance contracts, disputes, and claim payments, especially when disputes are too small for courts. We test the model by investigating claim incidence, dispute, rejection, and payment, as well as insurance costs and pricing across countries. The evidence is consistent with the centrality of trust for insurance markets, as our model predicts. Authors have furnished data/code, which are available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

This study explores the challenges and opportunities of collaboration between Algerian universities and industrial enterprises, emphasizing the influence of social and cognitive proximity on successful partnerships, irrespective of geographical proximity.

Nobel laureates cluster together. 696 of the 727 winners of the Nobel Prize in physics, chemistry, medicine, and economics belong to one single academic family tree. 668 trace their ancestry to Emmanuel Stupanus, 228 to Lord Rayleigh (physics, 1904). Craig Mello (medicine, 2006) counts 51 Nobelists among his ancestors. Chemistry laureates have the most Nobel ancestors and descendants, economics laureates the fewest. Chemistry is the central discipline. Its Nobelists have trained and are trained by Nobelists in other fields. Nobelists in physics (medicine) have trained (by) others. Economics stands apart. Openness to other disciplines is the same in recent and earlier times. The familial concentration of Nobelists is lower now than it used to be. [ABSTRACT FROM AUTHOR]

In this presidential address, I discuss findings from a survey that was sent to all living past presidents (N = 46) of the National Economic Association (NEA). Based on 14 responses, I discuss potential strategies and action items for future NEA boards to consider. This text was spoken aloud during the presidential address. [ABSTRACT FROM AUTHOR]

This paper describes Latinx stratification economics (LSE) as a scholarly approach to studying the economic status of Latinas/os/es/xs primarily in the United States. We coin the term LSE to refer to work that draws on and is in conversation with both the emergent, interdisciplinary subfield of stratification economics (SE) and the interdisciplinary field of Latinx studies (LS). SE and LS have distinct intellectual traditions and drawing on both leads to strong theoretical and empirical scholarship on Latinxs, on the operation of race across space and historical time, and on the intersection of race with other systems of domination. We discuss how, based on these perspectives, it is misguided to expect racial/ethnic categories like Hispanic to be consistent over time and space and to correspond reliably with phenotypical characteristics or culture. We argue that a good faith reading of the LS literature would result in the recommendation to subordinate models of migration to models of colonialism and imperialism. We discuss the significance of normative goals and social justice to complement "gap analysis" comparisons to non-Hispanic whites. Lastly, we discuss deficiencies of the dominant models of discrimination and, as an alternative, we highlight rational models of racism that involve strategic identifications with whiteness, blackness, and mestizaje, including by members who identify as Latinx or those with Hispanic ancestry. [ABSTRACT FROM AUTHOR]

Drawing upon a genealogy density of chairpersons’ native places for Chinese family firms to measure the intensity of clan culture, this study uses regression analysis and chooses the fixed model with firm clusters to examine the impact of regional clan culture on firms’ corporate social responsibility (CSR). The findings suggest that family firms’ CSR performance increases with greater clan cultural intensity; specifically, firms characterized by a robust clan culture tend to engage more in socially responsible activities, prioritizing internal CSR over external initiatives. Drawing on imprinting theory, the results illustrate that clan culture shapes CSR activities by influencing chairpersons’ ethics and fostering a sense of mutual assistance. Further insights indicate that the influence of clan culture is particularly pronounced when entrepreneurs operate within their local environments or hail from large clans. However, factors such as population mobility, formal institution development, and the gender of the chairperson serve to weaken the impact of clan culture. In general, this study contributes evidence toward understanding the drivers behind family firms’ CSR behaviors from the vantage point of traditional culture.

This article lists the NEA board's main accomplishments during the period from February 2023 to January 2024 as summarized in my farewell letter to the NEA membership (sent on January 31, 2024). [ABSTRACT FROM AUTHOR]

Digital technologies have significantly changed the way adolescents perceive the world around them. The perception of the social environment is crucial for their well-being and health.

Transformation of entrepreneurial intention to action is a relatively new field of research that has attracted considerable interest from researchers over the past decade. This literature review has endeavoured to systematise and categorise the past studies to comprehend their actual research focus. The study has used 65 articles published between 1981 – 2020, divided into two categories, as articles published between 1981-2000 and 2001 – 2020. This study has used PRISMA framework, with well-defined exclusion and inclusion clauses, to identify relevant articles. The review found psychosocial influence to be the major focus of entrepreneurship research during year 1981-2000 period, while entrepreneurial mindset, entrepreneur’s family background, gender, behavioural control and entrepreneurial eco system, to be the major focus of the studies conducted between year 2001 and 2020. This review also found quantitative research methodology to be more popular among entrepreneurship researchers with regression analysis and structural equation modelling being most preferred for data analysis. This study has identified University students to be the most preferred unit of observation, while nascent entrepreneurs were found to be the least preferred. The study has also identified intention-action transformation to be a relatively new field of study with the field only gaining momentum over the past decade. This study adds value to the existing literature, through systemization and categorization, while supporting the administrators, policymakers, universities, and future researchers.

The continuity of the green environment, economy, and entrepreneur-ship is essential for sustainable development. Therefore, this research aims to explored the potential of informal institutions in promoting Green Enterpreneurship (GE) and sustainable socio-economic development. The method employed used microeconomic data rooted in local wisdom, social norms, and localized moral commitments from various regions of Indonesia. Data collection comprised surveys and structured interviews relevant to the research objectives. Quantitative data material was obtained by conducting a field survey of 150 household samples of green entrepreneurship respondents taken representatively in various regions using simple random sampling techniques. The design employed a two-stage mixed-method approach, including exploratory and explanatory designs. The result showed the significance of Green Enterpreneurship (GE) in mitigating the impacts of global climate change and economic crises, thereby contributing to the attainment of sustainable development goals. However, the main results of the research confirm that the capacity of formal institutions has not been able to navigate the complexity of these problems isssues is limited. Conversely, informal institutions, though capable of mitigating global climate change and advancing sustainable development, remained localized and lacked national and global integration and collaboration. Green Enterpreneurship (GE), as a form of social innovation, gave rise to new models of socio-economic solidarity within unique local communities. The research also underscored the pivotal role of informal institutions in facilitating these endeavors, thereby filling a void in high-quality new institutional economic theory