Archive

Frequent civil conflicts in African countries may erode national identity, thus highlighting a reason why civil conflict is costly for growth and development

This chapter surveys experimental research on networks in economics.

The tension between efficiency and equilibrium is a central feature of economic systems. In many contexts, social networks mediate this trade-off: an individual’s network position determines equilibrium play, and social relations allow coordination on an efficient norm.

As the financial economy has expanded beginning in the mid-1980s, it has done so in part by selling more products to individuals and households.