The resource-based view (RBV) has historically privileged the firm's internal resources and capabilities, often at the exclusion of its institutional context. In this paper, we introduce a culturally informed RBV that explains how cultural elements in the firm's institutional context shape the economic value associated with a firm's strategy. We posit that a firm's institutional context may cre...

This paper considers how identity, a person’s sense of self, affects economic outcomes. We incorporate the psychology and sociology of identity into an economic model of behavior. In the utility function we propose, identity is associated with different social categories and how people in these categories should behave. We then construct a simple game-theoretic model showing how identity can af...

A joint concern with multidimensionality and dynamics is a defining feature of the pervasive use of the terminology of social exclusion in the European Union. The notion of social exclusion focuses attention on economic vulnerability in the sense of exposure to risk and uncertainty. Sociological concern with these issues has been associated with the thesis that risk and uncertainty have become ...

For many citizens and policymakers, the empirical relationship between economic growth and biodiversity conservation has not been sufficiently established for purposes of identifying the types of economic policies amenable to biodiversity conservation. Some think economic growth conflicts with biodiversity conservation; others think economic growth conduces biodiversity conservation. With panel...

The theory about missing links of economic growth often lags behind the empirical estimations of such links. A consensus has emerged that ethnic fractionalization has a negative impact on growth, also when controlled for income inequality. Often, although implicitly, the assumed channel is social cohesion. We analyse the effect of fractionalization on social cohesion with a different inequality...

The concept of ‘social exclusion’ is of relatively recent origin. It gained currency in the European context in response to rising unemployment and income inequalities which characterised the closing decades of the 20 century, a period of considerable economic and social dislocation as countries sought to deal with the challenges of globalisation on their labour markets, welfare states and prev...

When evaluating the inclusion-exclusion expansion N0 −N(1) −N(2) − · · ·+N(1, 2) +N(1, 3) + · · · many of the terms N(· · ·) may turn out to be zero, and hence should be discarded beforehand. Often this can be done.