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Social Culture and Economic Performance

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  • Hanming Fang

Abstract

The connection between obtaining higher paying jobs and undertaking some seemingly irrelevant activity is interpreted as "social culture." In the context of a society trying to adopt a new technology, I show that by allowing the firms to give preferential treatment to workers based on some "cultural activity," the society can partially overcome an informational free-riding problem. Therefore, social culture may affect the economic performance by altering the effective production technology of the economy.

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/aer.91.4.924
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Bibliographic Info

Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 91 (2001)
Issue (Month): 4 (September)
Pages: 924-937

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Handle: RePEc:aea:aecrev:v:91:y:2001:i:4:p:924-937

Note: DOI: 10.1257/aer.91.4.924
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  1. Robson, Arthur J, 1992. "Status, the Distribution of Wealth, Private and Social Attitudes to Risk," Econometrica, Econometric Society, vol. 60(4), pages 837-57, July.
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  9. Coate, S. & Loury, G.C., 1992. "Will Affirmative Action Policies Eliminate Negative Stereotypes?," Papers 3, Boston University - Department of Economics.
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