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This paper seeks to explain the persistence of entangled systems of political economy. It does so by introducing the concept of "coercive advantage." Coercive advantage refers to the benefits, privileges, and rights conferred to certain actors engaging in political exchanges. The form of advantages obtained are varied, and may include financial transfers, capital returns, rents, and non-material benefits, such as recognition and prestige. The heterogeneity of coercive advantage is owing to the emergent complexity of political arrangements, presenting manifold opportunities for political entrepreneurship in the quest to attain such benefits. Distributional questions also come to the fore, with coercive advantages potentially reflected in upward redistribution benefiting a host of actors, such as interest group representatives, bureaucrats, and politicians themselves. A key proposition of this paper is that the arrangements giving rise to coercive advantages may register broad support under majoritarian political decision rules. Elites capturing the most lucrative rents, and other advantages attributed to coercion, may successfully co-opt non-elites into registering support for such activity. They do this by providing transfer payments, infrastructure, and other programs, together with communicating rhetorical and symbolic justifications for status quo practices. This paper considers key implications of the coercive advantage notion for political economy. [ABSTRACT FROM AUTHOR]

Home advantage is a well-established phenomenon in professional football. However, the literature on the effect of the size of the crowd on home advantage has produced mixed results. The present study utilized data from all the games in the Chinese Super League between the 2011 and 2019 seasons. Using multivariate regressions, where we control for teams’ abilities, different schedule related variables and referees’ unobserved characteristics, we find that the size of attendance has a positive effect on home advantage in terms of yellow cards, scored goals and points per game. Our finding emphasizes the important role of crowd on home advantage, not only for the dichotomous comparison between games with and without crowd, but also for the continuous case with varying levels of crowd.

Intermittent or multifractal behavior has been reported in various markets, and the impact of the COVID-19 pandemic has been investigated. However, the impact of the COVID-19 pandemic on global spot markets for staple foods has not yet been studied. We fill this gap by investigating the grain and oilseeds index (GOI) and its five sub-indices, wheat, maize, soybean, rice, and barley, released by the International Grains Council (IGC). We perform statistical tests on the presence of intrinsic multifractal behavior in subsamples before and during the COVID-19 pandemic using five multifractal analysis approaches. The results show that intrinsic multifractality is less likely in the (sub-)samples of rice and soybean, whereas the (sub-)samples of wheat and maize are more likely to possess multifractal nature. Only some (sub-)samples showed that the subsamples during COVID-19 were more intermittent than the subsamples before COVID-19.

This article examines ‘the economics of singularities’ by Lucien Karpik, which is a sociological theory explaining the functioning of markets for a specific type of goods, labeled as ‘singularities’, defined according to three criteria: the plurality of qualities, quality uncertainty and the primacy of quality. According to Lucien Karpik, singularities complement the typology of goods traditionally used by economists, consisting of homogeneous and differentiated goods. He argues that singularities represent a ‘blind spot’ of what he calls ‘neoclassical economic theory.’ According to him, while neoclassical economic theory is adequate for studying homogeneous and differentiated goods, an autonomous framework is indispensable for studying singularities. In this article, we propose a comprehensive overview of the economics of singularities, and we formulate a critique of Karpik’s positioning in relation to neoclassical economic theory. [ABSTRACT FROM AUTHOR]

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This article investigates how the type of elite to which a person belongs and their intergenerational contextual experiences are associated with attitudes towards inequality among elite individuals. We propose that membership of the economic elite and access to private schools, higher education business schools and affluent residential areas may contribute to the development of views that favour inequality. Using unique survey data collected in 2018 from a sample of 416 individuals belonging to Chile's economic, political and cultural elites, we construct an additive score to measure attitudes towards inequality. Results of our regression analyses indicate that individuals belonging to the economic and political elite are more tolerant of inequality than members of the cultural elite. Moreover, intergenerational experiences at both private schools and higher education business schools significantly contribute to the formation of attitudes that favour inequality. These contextual experiences also relate to significant attitudinal variations within all elite groups. [ABSTRACT FROM AUTHOR]

We assemble homeowner insurance claims from 28 independently operated country subsidiaries of a multinational insurance firm. We propose a new insurance model, in which consumers can make invalid claims and firms can deny valid claims, as is common in the data. In the model, trust and honesty shape equilibrium insurance contracts, disputes, and claim payments, especially when disputes are too small for courts. We test the model by investigating claim incidence, dispute, rejection, and payment, as well as insurance costs and pricing across countries. The evidence is consistent with the centrality of trust for insurance markets, as our model predicts. Authors have furnished data/code, which are available on the Oxford University Press Web site next to the link to the final published paper online. [ABSTRACT FROM AUTHOR]

We posit that prices are signs, not just signals, that work in the same symbolic way as words. Both are complex, generative systems of shared meaning that rely on a web of intricate symbolic references. Just like the meaning of a word is a product of our social and linguistic action, the meaning of a price is a product of our relationship to the physical world phenomena of people in markets. The fundamental conception of both is to communicate and construct worlds with ourselves and others, enabling us to act in the world. Prices, like words, do symbolic work. [ABSTRACT FROM AUTHOR]

Commemorative stamps have a place in the cultural, economic, and geopolitical status of a nation; and what is printed on stamps often reflects a country's culture, regime, and values. Whilst stamps can celebrate monuments, flora and fauna, and points in a nation's history; they are also a source of recognition, celebrating the contribution of key figures and their performance in areas deemed significant to a nation. In this empirical study, we analyse commemorative stamp data in a cross-sectional setting to understand key determinants that shape their provision. The award literature has developed propositions that have not yet been tested empirically. We find evidence that the political process and regime influences the use of postage stamps as a recognition tool and a country's governance, matters. For example, controlling for regime, more corrupt countries are more likely to use stamps to recognize personalities. However, the researchers note that democratic regimes frequently use stamps as a recognition tool. We find that cultural factors and ideologies show substantial heterogeneity in their influence, while factors such as fractionalization or income inequality do not seem to matter. Factors such as personal and impersonal pro-sociality or creativity reduces the utilization of stamps as a recognition tool, while other factors such as market orientation, individualism, or traditionalism encourage the use of stamps to recognize individuals. Overall, we find that some results are consistent with the theoretical propositions while others are not, requiring more empirical evidence and a better understanding of how stamps differ from other recognitions. [ABSTRACT FROM AUTHOR]

Despite the notable progress that has been made in bridging the gap between women and men in the world of work, women are still underrepresented in many occupations. In this article, the effect of gender norms on whether women enter male-dominated occupations is analysed using differences in gender equality among early-arrival migrants. The variations in gender norms according to the cultural backgrounds of those migrants by country of origin are exploited to identify their impact on occupational choices. Using data from the American Community Survey, it is found that greater gender equality in the country of origin reduces the gender gap in male-dominated occupations. Suggestive evidence is further shown on the roles of job flexibility and women's relative preferences for family-friendly jobs in shaping gender-based sorting across occupations. [ABSTRACT FROM AUTHOR]

Purpose: The potential growth in cryptocurrencies has raised serious ethical and religious issues leading to a new investment rethinking. This paper aims to identify the influence of religiosity on cryptocurrency acceptance through an extended technology acceptance model (TAM) model. Design/methodology/approach: In the first phase, this research develops a conceptual model that extends the theory of the TAM by integrating the religiosity component. In the second phase, the proposed model is tested using search volume queries in daily frequencies from 01/01/2018 to 31/12/2022 and structural equation modeling (SEM). Findings: The empirical results demonstrate a significant positive effect of religiosity on the intention to use cryptocurrency, the users' perceived usefulness (PU) and ease of use (PEOU). Besides, the authors note that PEOU positively influences the intention. Furthermore, religiosity indirectly affects the intention through the PEOU and positively impacts the intention through the PU. In the same way, PEOU has a considerable indirect effect on the intention through PU. Practical implications: This study has practical and theoretical contributions by providing insights into the cryptocurrency acceptance factors. In other words, it contributes to the literature by extending TAM models. Practically, it helps managers determine factors affecting the intention to use cryptocurrencies. Therefore, they can adjust their industry according to the suitable characteristics for creating successful projects. Social implications: Identifying the effect of religiosity on cryptocurrency users' choices and decisions has a social added value as it provides an understanding of the evolution of psychological variants. Originality/value: The findings emphasize the importance of integrating big data to analyze users' attitudes. Besides, most studies on cryptocurrency acceptance are investigated based on one kind of religion, such as Christianity or Islam. Nevertheless, this paper integrates the effect of five types of faith on the users' intentions. [ABSTRACT FROM AUTHOR]

This study explores the challenges and opportunities of collaboration between Algerian universities and industrial enterprises, emphasizing the influence of social and cognitive proximity on successful partnerships, irrespective of geographical proximity.

This paper describes Latinx stratification economics (LSE) as a scholarly approach to studying the economic status of Latinas/os/es/xs primarily in the United States. We coin the term LSE to refer to work that draws on and is in conversation with both the emergent, interdisciplinary subfield of stratification economics (SE) and the interdisciplinary field of Latinx studies (LS). SE and LS have distinct intellectual traditions and drawing on both leads to strong theoretical and empirical scholarship on Latinxs, on the operation of race across space and historical time, and on the intersection of race with other systems of domination. We discuss how, based on these perspectives, it is misguided to expect racial/ethnic categories like Hispanic to be consistent over time and space and to correspond reliably with phenotypical characteristics or culture. We argue that a good faith reading of the LS literature would result in the recommendation to subordinate models of migration to models of colonialism and imperialism. We discuss the significance of normative goals and social justice to complement "gap analysis" comparisons to non-Hispanic whites. Lastly, we discuss deficiencies of the dominant models of discrimination and, as an alternative, we highlight rational models of racism that involve strategic identifications with whiteness, blackness, and mestizaje, including by members who identify as Latinx or those with Hispanic ancestry. [ABSTRACT FROM AUTHOR]

In this presidential address, I discuss findings from a survey that was sent to all living past presidents (N = 46) of the National Economic Association (NEA). Based on 14 responses, I discuss potential strategies and action items for future NEA boards to consider. This text was spoken aloud during the presidential address. [ABSTRACT FROM AUTHOR]

Nobel laureates cluster together. 696 of the 727 winners of the Nobel Prize in physics, chemistry, medicine, and economics belong to one single academic family tree. 668 trace their ancestry to Emmanuel Stupanus, 228 to Lord Rayleigh (physics, 1904). Craig Mello (medicine, 2006) counts 51 Nobelists among his ancestors. Chemistry laureates have the most Nobel ancestors and descendants, economics laureates the fewest. Chemistry is the central discipline. Its Nobelists have trained and are trained by Nobelists in other fields. Nobelists in physics (medicine) have trained (by) others. Economics stands apart. Openness to other disciplines is the same in recent and earlier times. The familial concentration of Nobelists is lower now than it used to be. [ABSTRACT FROM AUTHOR]

This article introduces the first-ever full kinship network of an upper-class population in a US city (n  =   12   273). Multigenerational class transmission models tend to conceptualize families as father–son chains, especially for the upper class, but I systematically include women, finding that nearly 70% of Dallas high society from 1895 to 1945 was related in a single web encompassing most of the city's wealthy, powerful, and high-status people. Because elites did not always have sons, nearly three times more families persisted over the 50-year period than patrilineal measures would suggest. Almost all persistent families connected to the web, and they connected more deeply than non-persistent families. Three case studies demonstrate that women and kin ties beyond the patrilineage frequently drove elite family persistence. Upper-class populations are best understood not as collections of distinct dynasties that live or die with the success of sons, but as complex, durable family webs. [ABSTRACT FROM AUTHOR]

In this paper, we study a division between market corruption—impersonal bribery—and network corruption that operates through social connections. We provide a thorough theoretical discussion of this division, compare it with other categorizations of corruption, and also demonstrate differences between market and network corruption existing in practice. Using data from the World Economic Forum in the period from 2007 to 2016 we measure market and network corruption across about 150 countries all over the globe and show that network corruption is more related to countries' cultural backgrounds and more harmful to investments than market corruption. Overall, our paper argues that the market-network dimension, unfairly abandoned in the literature, may be useful for better understanding of such a complex phenomenon as corruption. [ABSTRACT FROM AUTHOR]

Drawing upon a genealogy density of chairpersons’ native places for Chinese family firms to measure the intensity of clan culture, this study uses regression analysis and chooses the fixed model with firm clusters to examine the impact of regional clan culture on firms’ corporate social responsibility (CSR). The findings suggest that family firms’ CSR performance increases with greater clan cultural intensity; specifically, firms characterized by a robust clan culture tend to engage more in socially responsible activities, prioritizing internal CSR over external initiatives. Drawing on imprinting theory, the results illustrate that clan culture shapes CSR activities by influencing chairpersons’ ethics and fostering a sense of mutual assistance. Further insights indicate that the influence of clan culture is particularly pronounced when entrepreneurs operate within their local environments or hail from large clans. However, factors such as population mobility, formal institution development, and the gender of the chairperson serve to weaken the impact of clan culture. In general, this study contributes evidence toward understanding the drivers behind family firms’ CSR behaviors from the vantage point of traditional culture.

Digital technologies have significantly changed the way adolescents perceive the world around them. The perception of the social environment is crucial for their well-being and health.