Cultural values and behavior in dictator, ultimatum, trust games: an experimental study

We explain laboratory behavior in the dictator, ultimatum and trust games based on two cultural dimensions adopted from social and cultural anthropology: grid and group, which translate into reciprocity and altruism, respectively, in such games. Altruism and reciprocity characteristics are measured for each individual using selected items from the World Values Survey. We find that altruism and reciprocity attributes systematically affect behavior. Subjects with higher altruism scores offer more, accept lower offers and return more. Subjects with higher reciprocity scores are more willing to punish violators of norms by rejecting offers more often, dividing fewer dollars and returning fewer dollars in the ultimatum and trust games.laboratory experiment, two-person game, survey, culture

Culture, beliefs and economic performance

Beliefs are one component of culture. Data from the World Values Survey is available on a subset of beliefs concerning (broadly) meritocracy and poverty that appear relevant for economics. We document how they vary as well as their distribution across countries. We then correlate these measures of beliefs with economic growth and compare them with institutional and geographical determinants of income. A strong negative relationship is found between leftist economic beliefs and growth but little evidence is found of a relationship with respect to non-economic beliefs. Finally, we briefly discuss some causal effects on beliefs. The evidence suggests that higher country risk and more dependence on natural resources shifts nations to a more leftist set of economic beliefs. Overall the evidence supports the view that cultural specificities may explain why certain institutions cannot be transplanted between nations with different cultural histories and underlines the limit to policy activism

Explanatory factors of university student participation in flamenco

The present work offers a study exploring University of Seville students’ cultural participation and how often they attend live flamenco shows. Based on the statistical yearbook of this university, a sample of 452 students from different fields was selected and, by applying a questionnaire, a binomial logit model and an ordered finance model were constructed. Our empirical findings offer descriptive, explanatory and predictive statistical results regarding participation and frequency. For example, the results evidence that 43% of the University of Seville students have never attended a live flamenco show and that one of the main issues influencing attendance is human and cultural capital

Corporate culture and shareholder value in banking industry

This paper analyses the casual relationship between corporate culture and shareholder value using a sample of large banks in the French, German, Italian and U.K. banking systems over the 2000 to 2003 period. Firstly, we measure shareholder value using an Economic Value Added estimated through a procedure tailored to account for banking peculiarities. Secondly, we measure corporate culture using language as its particular artifact and developing a cultural survey based on the application of a text-analysis model to a corpus of reference texts produced by the sample of banks. We posit six hypotheses regarding the relationship between corporate culture and bank profits and shareholder value. Our results noticeably show that bank profits and shareholder value benefit from different orientations of banking corporate culture.

Cultures of innovation of the African poor : common roots, shared traits, joint prospects? ; on the articulation of multiple modernities in African societies and black diasporas in latin America

The globalized Western culture of innovation, as propagated by major aid institutions, does not necessarily lead to empowerment or improvement of the well-being of the stakeholders. On the contrary, it often blocks viable indigenous innovation cultures. In African societies and African Diasporas in Latin America, cultures of innovation largely accrue from the informal, not the formal sector. Crucial for their proper understanding is a threefold structural differentiation: between the formal and informal sector, within the informal sector, according to class, gender or religion, and between different transnational social spaces. Different innovation cultures may be complementary, mutually reinforcing, or conflicting, leading in extreme cases even to a ‘clash of cultures’ at the local level. The repercussions of competing, even antagonistic agencies of innovative strategic groups are demonstrated, analyzing the case of the African poor in Benin and the African Diasporas of Brazil and Haiti.Die globalisierte westliche Innovationskultur, wie sie von den großen Entwicklungshilfeinstitutionen propagiert wird, führt nicht notwendigerweise zur Verbesserung der Lebensbedingungen der Armen. Sie blockiert im Gegenteil oft wertvolle Ansätze endogener kultureller Innovationen. In afrikanischen Gesellschaften und in der Afrikanischen Diaspora Lateinamerikas entstehen Innovationskulturen überwiegend im informellen, nicht im formellen Sektor. Diese Innovationskulturen weisen eine dreifache strukturelle Differenzierung auf: zwischen formellem und informellem Sektor, innerhalb des informellen gemäß sozialer Schichtung, Geschlecht oder Religion sowie zwischen transnationalen sozialen Räumen. Diese unterschiedlichen Innovationskulturen können sich gegenseitig ergänzen und verstärken oder aber auch bekämpfen, was in Extremfällen bis hin zum „Kampf der Kulturen“ auf lokaler Ebene führt. Die Auswirkungen dieser konkurrierenden oder antagonistischen Handlungsstrategien innovativer strategischer Gruppen werden an Hand von Fallstudien der Armen in Benin und in der Afrikanischen Diaspora Brasiliens und Haitis aufgezeigt

Risky Curves: From Unobservable Utility to Observable Opportunity Sets

Most theories of risky choice postulate that a decision maker maximizes the expectation of a Bernoulli (or utility or similar) function. We tour 60 years of empirical search and conclude that no such functions have yet been found that are useful for out-of-sample prediction. Nor do we find practical applications of Bernoulli functions in major risk-based industries such as finance, insurance and gambling. We sketch an alternative approach to modeling risky choice that focuses on potentially observable opportunities rather than on unobservable Bernoulli functions.Expected utility, Risk aversion, St. Petersburg Paradox, Decisions under uncertainty, Option theory

Cultures of Innovation of the African Poor. Common Roots, Shared Traits, Joint Prospects? On the Articulation of Multiple Modernities in African Societies and Black Diasporas in Latin America

The globalized Western culture of innovation, as propagated by major aid institutions, does not necessarily lead to empowerment or improvement of the well-being of the stakeholders. On the contrary, it often blocks viable indigenous innovation cultures. In African societies and African Diasporas in Latin America, cultures of innovation largely accrue from the informal, not the formal sector. Crucial for their proper understanding is a threefold structural differentiation: between the formal and informal sector, within the informal sector, according to class, gender or religion, and between different transnational social spaces. Different innovation cultures may be complementary, mutually reinforcing, or conflicting, leading in extreme cases even to a ‘clash of cultures’ at the local level. The repercussions of competing, even antagonistic agencies of innovative strategic groups are demonstrated, analyzing the case of the African poor in Benin and the African Diasporas of Brazil and Haiti.Economic development; cultural change; innovations; social structure; African Diaspora; Benin; Brazil; Haiti

Political Culture of Post-Soviet Economic Change: The Case of Financial-Industrial Groups

Beneath the seeming chaos and conflict of Russia\u27s post-socialist experience were structured dynamics of contentious reconstruction of fields (collective relations of power and culture institutionalized as authority and definitions of normal ). This essay argues that the Russian experience was driven in no small part by contention over remaking core meanings and authority of field relations, practices, and boundaries. Contention over field reconstruction emerged as three groups\u27 interests and taken-for granted meanings of normality collided: those of Soviet-era managers, a new class of financial entrepreneurs and elites, and state elites and officials. Post-socialism has been a story of competing elite culture as well as interests

The Economic Value of Sangiran Museum, Central Java, Indonesia Application of Travel Cost Method

Abstract— This research is an application travel cost method (TCM) at Sangiran Museum which aims to estimate the total value of benefit for visitors Sangiran Museum, willingness to pay (WTP) visitors to the activities of the addition of new facilities at the Sangiran Museum and analysed factors that affect the significant impact on the level of visits per 1000 population per year to the Sangiran Museum. This sample size was 180 people, the election is done by way of probability sampling. The results of this study indicate that the total value of benefits at Sangiran Museum admission fee is equal to zero for Rp. 728,013,743.7 (USD 80,890.42), while the total value of benefits per year, Sangiran Museum in admission rates applicable to Rp. 300,- (USD 0.03) to Rp. 532,788,743.7,- (USD 59,198.75). Magnitude average maximum willingness to pay (WTP) of visitors to the activities of the addition of new facilities at the Sangiran Museum is Rp. 11,102.63 (USD 1.23). Form of empirical model functions best in this study is the log-log form. The results of regression analysis showed that the variable cost of travel (LnTC), education (LnEDC), income (LnNC), distance (LnDIS) and age (LnAGE) significantly affect the level of significance level of 5% of visits per 1000 population per annum (LnV) the Sangiran Museum