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World folklore and history are replete with examples that involve economics principles. The present note builds upon other published work by providing an empirical public choice analysis of the Salem witch trials of 1692. Our analysis suggests that the pattern of accusations during this episode...
It is usually unnecessary to define the output of an industry, but this is not the case with mental health services. Following Grossman's conception of health capital, the outputs of mental health care enter a household production function as a commodity vector. Considering the multiple and...
In the contemporary relation between economics and Judeo‐Christian thought, Smith identifies three positions. These are disciplinary autonomy for economics, disciplinary interdependence between economics and Christian thought, and distinctively Christian economic analysis. Little evaluation has...
It is generally accepted that massive tourism and a vibrant indigenous culture are mutually exclusive. Bali has so far proven to be an exception to this rule. This article explores a hitherto overlooked socio‐economic mechanism behind that exception. It is a dual complementary currency system...
This paper shows that the consistent way of modeling sentiment‐driven moral behaviors in a setting of social interaction is to derive the equilibrium moral code that is mutually consistent with the optimal moral behavior of each player. To do this, it is necessary that moral sentiments be...
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