The Solution to Douglass. C. North’s Puzzle Concerning China’s Household Responsibility System Summary of JOIE article (15 October 2021) by Simon Deakin and Gaofeng Meng, Centre for Business Research, University of Cambridge, Cambridge, UK. The full article is available on the JOIE website. The dominant theory of property in economics views property rights as individualised and…
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The Dynamic Efficiency of Gifting
Summary of JOIE article (18 August 2022) by Anthony Gill, Department of Political Science, University of Washington, Seattle, Washington, and Michael D. Thomas, Department of Economics and Finance, Heider College of Business, Creighton University, Omaha, Nebraska. The full article is available on the JOIE website. In Scroogenomics, Joel Waldfogel argues that gifting creates enormous deadweight…
Shortlist for the 2022 Elinor Ostrom Prize
The following articles have made the short-list for this year’s Elinor Ostrom Prize: Peter Grajzl and Peter Murrell, “A Machine-Learning History of English Caselaw and Legal Ideas Prior to the Industrial Revolution I: Generating and Interpreting the Estimates“, JOIE 17(1): 1-19 and “A Machine-Learning History of English Caselaw and Legal Ideas Prior to the Industrial Revolution II: Applications“, JOIE 17(2):…
Crafting of cognitive institutions for overcoming the Covid-19 pandemic
Summary of the JOIE article (24 January 2022) by Daniil Frolov, Faculty of Economics and Management, Volgograd State Technical University, Russia. The full article is available on the JOIE website. National governments are the main actors enforcing preventative measures to contain the COVID-19 pandemic, focusing on top-down policies and sanctions. Now it is becoming more…
Theory in closer contact with industrial life: American institutional economics on competition
Summary of JOIE article (14 September 2021) by Mathew T. Panhans, Federal Trade Commission, Washington, DC, USA and Reinhard Schumacher, University of Potsdam, Potsdam, Germany. The full article is available on the JOIE website. Antitrust and competition policy are back in vogue as of late. In March 2016, The Economist declared that “Profits are too high. America need…
Introduction to the special issue on institutions and culture in economic contexts
Summary of the introduction to the JOIE Vol 18 (1) special issue by Luca Andriani, Department of Management, Birkbeck University of London and Randolph Bruno, School of Slavonic and East European Studies, University College London. The full article is available on the JOIE website. This special issue aims to explore the role of institutions and…
Making reform and stability compatible: Elite redeployment in Japan
Summary of JOIE Article (First View 6 December 2021)by Makio Yamada, Institutes for Advanced Studies, University of Tokyo. The full article is available on the JOIE website. In this article, I provide an explanation of how Meiji Japan (Japan after the Meiji Restoration in the winter of 1867/8) achieved swift institutional improvement by making reform…
A time to throw stones, a time to reap: How long till democracy improves outcomes?
Summary of JOIE article (First View 6 July 2021) by Pierre-Guillaume Méon, Centre Emile Bernheim and Dulbéa, Université libre de Bruxelles, and Khalid Sekkat, Centre Emile Bernheim, Université libre de Bruxelles. The full article is available on the JOIE website. Empirical studies of the impact of democracy on growth long remained inconclusive as the meta-study…
Olympics, Inequality and Institutions
Summary of JOIE article (First View 30 November 2020) by Vadim Kufenko, Institute of Economics, University of Hohenheim, Schloss, Germany and Vincent Geloso, Department of Economics and Finance, King’s University College, Ontario, Canada. The full article is available on the JOIE website. Does inequality affect economic outcomes? The recent surge in interest in the proper…
On legal bubbles: Shockwaves at the core of the digital economy
Summary of JOIE article ( First View 05 July 2021) by Marco Giraudo, Department of Law, University of Turin, Turin, Italy. The full article is available on the JOIE website. This article traces the main legal-economic dynamics underlying the rise of the personal data-driven economy and argues that a legal bubble has characterized its development so…