WORKERS,WARRIORS, AND CRIMINALS: SOCIAL CONFLICT IN GENERAL EQUILIBRIUM

We incorporate appropriation activities (social conflict) into canonical models of trade and study how economic shocks and policies affect the intensity of conflict. We show that not all shocks that could make society richer reduce conflict: positive shocks to labor‐intensive industries diminish conflict, while positive shocks to capital‐intensive industries increase it. The key requirement is that conflict activities be more labor intensive than the economy as this determines how shocks affect the returns and costs of conflict. Our theory is consistent with several observed patterns of conflict and implies that empirical work should take into account the relative factor intensities of the productive and conflict sectors in each country. Incorporating appropriation into a canonic general equilibrium model affects what policies may be deemed desirable: in order to reduce conflict and generate Pareto‐improvements policy must be distortionary, while reforms that appear efficiency‐enhancing under the unrealistic assumption of perfect property rights may backfire. This offers one explanation for why reforms based on traditional models without appropriation may be delayed and become unpopular when implemented, and why societies may sympathize with seemingly inefficient redistribution.     

MONITORING IN TEAMS: USING LABORATORY EXPERIMENTS TO STUDY A THEORY OF THE FIRM

Alchian and Demsetz’s influential explanation of the classical business firm (The American Economic Review, 1972, 62, 777–795) argues that there is need for a concentrated residual claim in the hands of a central agent, to motivate the monitoring of workers. We model monitoring as a way to transform team production from a collective action dilemma with strong free riding incentives to a productivity‐enhancing opportunity with strong private marginal incentives to contribute effort. In an experiment, we have subjects experience team production without monitoring, team production with a central monitor, and team production with peer monitoring. Then subjects vote on whether to employ the central monitor, who gets to keep a fixed share of the team output, or to rely on peer monitoring, which entails a coordination or free riding problem. Our subjects usually prefer peer monitoring but they switch to the specialist when unable to successfully self‐monitor. We provide evidence for situations in which team members resist the appointing of a central monitor and succeed in overcoming coordination and free riding problems as well as for a situation in which an Alchian–Demsetz‐like firm grows in the laboratory.     

反思“封贡体系”:10至13世纪东亚国际体系的一个侧面

关于古代东亚国际体系理论的研究,学界已取得丰硕的成果。然而学界的研究多集中在“汉唐东亚”与“明清东亚”,根据汉唐时期或明清时期的东亚国际体系所提炼出的要素对于10至13世纪的东亚解释力不足。虽然学界关于10至13世纪东亚各政权间具体问题的探讨,为宏观探讨同时期东亚国际体系奠定坚实基础,但仍未步入理论层面。制度化的封贡体系的形成时间正是在11世纪初,即辽朝中期。缺乏对10至13世纪的东亚国际体系的整体把握,无法正确、深刻地理解东亚是怎样由“汉唐东亚”步入“明清东亚”,进而也就无法正确认知当代东亚国际问题的历史症结所在。     

十三月对甲骨文排谱的重要性

本文主要指出"十三月"一词的记载对于不载周祭的宾组卜辞在排谱时的重要性,包括排谱时可利用月数的差数来计算是否当放入一个十三月,以及对于那些可能插入十二月及一月间的十三月事件利用微细断代法来判断其是否可排入同一年内。     

FAMILY TIES AND POLITICAL PARTICIPATION

We establish an inverse relationship between family ties and political participation, such that the more individuals rely on the family as a provider of services, insurance, and transfer of resources, the lower is one's civic engagement and political participation. We also show that strong family ties appear to be a substitute for generalized trust, rather than a complement to it. These three constructs—civic engagement, political participation, and trust—are part of what is known as social capital; therefore, in this paper, we contribute to the investigation of the origin and evolution of social capital. We establish these results using within‐country evidence and looking at the behavior of immigrants from various countries in 32 different destination places.     

Business strategy and the social norm of tipping

Tipping is an important economic phenomenon, involving about $47 billion a year in the US food industry alone, and trillions of dollars across different occupations and countries over the years. Moreover, tipping is a major source of income for millions of workers. This article discusses the implications of tipping for business strategy in the relevant industries. For example, firms can choose to impose a compulsory service charge in lieu of tipping - what are the advantages and disadvantages of doing so? How does tipping change the profit-maximizing level of investing in screening job applicants, training workers, monitoring them, and providing performance-based incentives by the firm? Can industries such as the music industry use tips (i.e., prices being voluntary and determined by the customers) as an alternative business model?     

The psychology and behavioural economics of poverty

The paper provides an overview and assessment of an emerging literature on the psychology and behavioural economics of poverty. We particularly highlight poverty experiences, role of neighbourhoods, poverty dynamics and transmission, child poverty and disability and personal finance. In addition we consider psychology and policy responses by looking and autonomy and empowerment, and poverty reduction programs. Our central thesis is that the detailed knowledge of individual experiences, cognitions and social factors in psychology and related social science complements the traditional economic emphasis on structural factors and policy instruments in a way that is exemplified by emerging work in behavioural economics. We conclude it is increasingly recognised that poverty reduction policies which are informed by behavioural insights may, as a result, be more effective.     

The US–China trade war and Phase One agreement

The Trump administration changed US trade policy toward China in ways that will take years for researchers to sort out. This paper makes four specific contributions to that research agenda. The first is to carefully mark the timing, definitions, and scale of the products subject to the tariff changes affecting US–China trade from January 20, 2017 through January 20, 2021. One result was each country increasing its average duty on the other to rates of roughly 20 percent, with the new tariffs and counter-tariffs covering more than 50 percent of bilateral trade. The second contribution is to highlight two additional channels through which bilateral tariffs changed during this period that received less research attention. One tariff change is through product exclusions, another is trade remedy policies of antidumping and countervailing duties. The third contribution is to provide an initial exploration into why China fell more than 40 percent short of meeting the goods purchase commitments set out under the first year of the Phase One agreement. The last contribution is to consider additional trade policy actions—involving forced labor, export controls for reasons of national security or human rights, and reclassification of trade with Hong Kong—likely to affect US–China trade beyond the Trump administration.     

Does culture matter for the economic performance of countries? An overview of the literature

From the point of view of economic development, the world is far from being homogeneous. Among the possible causes of such uneven evolution, culture is starting to attract the attention of a growing number of scholars. The present paper surveys some of the most important contributions on culture and economics, with a particular focus on the definition and measurement of culture and on the impact of different cultural traits on economic variables. According to this review of the literature, cultures emphasising individual effort while providing equal opportunities for everyone are more likely to encourage sustained economic growth.     

All that glitters is not gold: Do movie quality and contents influence box-office revenues in China?

Economic policy reform that started in China in early 1980s also affected its movie industry. Like other sectors, movie industry is also not fully liberalized. The industry is required to ensure that movie contents are consistent with core socialist and cultural values and locally produced movies are also financially viable. However, cultural and politically motivated regulation can adversely affect box-office revenues. Using a recently available dataset, which covers the period of 2009–2018, we investigate the box-office performance of Chinese domestic movies. We start by examining the role of movie quality signals (such as star power, internet media evaluation and industry recognition) in our empirical analysis of the relationship between family-friendly content of movies and box-office revenues. We then match the movie contents with its financial performance records. Our novel approach reveals that the explicit sex and profanity in movies have a negative and statistically significant impact on box-office revenues, which confirms the role of cultural values in financial success of motion pictures in China. However, in the case of large-budget movies involving celebrity superstars, the violent and gore (graphic violence) content attracts viewers and hence the box-office revenue increases. Our work highlights the contradictory nature of China’s movie industry policy, which binds the industry to strict cultural and politically motivated regulation while insisting on financial success.