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Embedded Culture as a Source of Comparative Advantage

Author

Listed:
  • Guiso, Luigi
  • Sapienza, Paola
  • Zingales, Luigi

Abstract

This paper examines how the concept of embedded culture played a transformative role in the ongoing cultural revolution within economics and business. We trace the field's shift from the 20th-century concept of homo economicus universalis to an approach incorporating cultural embeddedness in economic behavior. Beyond documenting this intellectual transformation, we identify fertile areas for future research and explore how an embedded cultural perspective can enhance both our understanding of economic phenomena and the design of effective policies.

Suggested Citation

  • Guiso, Luigi & Sapienza, Paola & Zingales, Luigi, 2024. "Embedded Culture as a Source of Comparative Advantage," CEPR Discussion Papers 19798, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:19798
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    File URL: https://cepr.org/publications/DP19798
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    More about this item

    JEL classification:

    • Z1 - Other Special Topics - - Cultural Economics
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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