The paper investigates the dynamic relationship between social trust and economic governance using a principal-agent model with stochastic returns. To mitigate the inherent moral hazard problem both intrinsic and extrinsic incentives are useful. The cooperative tendency of an agent measures his intrinsic discipline against shirking, the distribution of which characterizes social trust in societ...

the concept of land use transition highlights that land use change is non-linear and is associated with other societal and biophysical system changes. changes in human systems has resulted in changes in the natural system such as changes in land use. land use change causes not only environmental factors like geography and topography are important, but social factors examined such as population ...

For several years there has been tension between contrasting visions of the future of enterprise computing: the so-called integrated suite versus best-of-breed strategies, championed respectively by Oracle and IBM. Commonly, this conflict has been seen as a matter purely of technical efficiency and relative cost; but it is much more. Whether one approach or the other is destined to prevail is a...

Economic insecurity describes the risk of economic loss faced by workers and households as they encounter the unpredictable events of social life. Our review suggests a four-part framework for studying the distribution and trends in these economic risks. First, a focus on households rather than workers captures the microlevel risk pooling that can smooth income flows and stabilize economic well...

Social legislation is the popular topic of the day. If he realizes it the Forgotten Man must be mildly annoyed by being so well remembered. While the noisy protagonists of the various styles of social insurance are making their stirring pleas it is only right that the opponents have their day in court. Dr. Ochsner ably presents the case. His long and active career as a student in the Health Ins...

A framework for the optimal taxation of cigarettes based on economic efficiency is provided here. Fundamentally different views of smoking in the context of addictive behavior result in markedly different estimates of the efficient cigarette tax rate. Based on the rational addiction model, more than half of the states may have increased their cigarette excise tax rates to levels beyond the econ...

This paper is a critical introduction to the new wave of economic literature on the role of social interactions in determining aggregate economic outcomes. I refer to this research program, also known as new social economics, as the socioeconomic analysis of behavior, to distinguish it from the more popular economic analysis of social behavior. I discuss the main features of so-called interacti...

The paper econometricallyestimate investors‘ optimal portfolios are independent of their investmenthorizon. When ex ante diversification is investigated there appears to be no evidence of increased demand for equity over a longer investment horizons in India. That is, in India we obtain a flat equity profile over the investment horizons.Therefore, the mean-aversion in fixed-income explains the ...

The connection between obtaining higher paying jobs and undertaking some seemingly irrelevant activity is interpreted as “social culture.” In the context of a society trying to adopt a new technology, I show that by allowing the firms to give preferential treatment to workers based on some “cultural activity,” the society can partially overcome an informational free-riding problem. Therefore, s...