Problems associated with cronyism, corporatism, and policies that favor the elite over the
masses have received increasing attention in recent years. Political Capitalism explains that …

This paper explores a new theoretical and empirical approach to the assessment of human
well-being, relevant to current challenges of social fragmentation in the presence of …

We develop a model in which bank culture improves upon outcomes attainable with
incentive contracting. The bank designs a second-best incentive contract to induce the …

Educational institutions not only build human capital; they also shape culture. We present a
model of cultural dynamics produced by cultural transmission through the education system …

Models of democratic decision-making tend to assume that voters have preferences and that
candidates adjust their platforms to conform with those preferences; however, the direction …

Our socio–economic innovation ecosystem is riddled with ever-increasing complexity, as we
are faced with more frequent and intense shocks, such as COVID-19. Unfortunately …

Despite the dynamic development of the discipline of economics, the ways in which
economics is taught and how it defines its basic principles have hardly changed, resulting in …

This paper examines how economic fragmentation (widening inequality of skills, income and
education) gives rise to social fragmentation (via incompatible social identities), generating …

Economic outcomes vary significantly across socio-demographic groups. In a model of
multidimensional identity, we show how differences in economic participation can give rise …

Intergroup inequality has been linked to differing norms of economic participation among
groups. We present a theory of endogenous identity-specific norms in which the larger a …