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Disinformation, Benefit of Group Membership, and Conscience: An Economic Model
Get PDFMutual trust and confidence are important to succeed not only in business but also in many other activities, which means that people do not necessarily behave totally selfishly, even in profit-maximizing activities. Non-selfish behaviors, in other words, behaviors induced by conscience and guilt, are particularly important to actualize the benefit of a group, team, organization, nation, or society as a whole. In this paper, I examine the role of conscience for the benefit of group membership and construct an economic model of conscience. Combining this model with a model of disinformation and mutual trust, I show that the level of conscience in an economy (society) is positively correlated with its efficiency and productivity. Furthermore, on the basis of this model, I discuss the political impact of conscience on, and argue that it will not be easy to establish, a democracy in a nation of low average conscience
Google and China's Trade
Get PDFAlthough Google is blocked in China, Chinese provinces export significantly more to foreign countries that recently searched for them (up to 12 months prior). This attention premium is found mainly at the extensive margin of exports, larger in products that are relatively homogeneous, substitutable, and upstream in the production process, and more pronounced during the COVID pandemic and during the holiday season. The attention premium is not found for Chinese imports from the rest of the world. Our findings attest to online attention as a scarce resource in international trade allocated by importers
Oil countries: What kind of capitalism?
Get PDFThe paper considers 18 OPEC countries that were low-income countries when oil was found. Oil has given the countries a special path to high income. Normally wealth leads to democracy, but in oil countries it leads to a consolidation of the previous authoritarian rule. Thus, in most cases, oil wealth leads to a conservative political and economic system. Especially the six oil countries on the Arab Peninsula have conservative socio-cultural values, and they are staunchly authoritarian. However, this does not mean that OPEC countries are oriented toward free market policies. They score poorly on legal quality and protection of property rights and consequently, they have some corruption. This gives centralized economic systems dominated by the ruling group. It is a capitalist system, but it is a special oil type of political capitalism
Media Reports of Coup d’etat and Democratic Attitude in Neighboring Countries
Get PDFThis study examines the impact of the occurrence of a military coup on the democratic attitudes of citizens in neighboring countries. Using nationally representative survey from multiple countries and the identification strategy of the unexpected event during survey design, we show that those exposed to the information about coup are more likely to support democracy. The effect size is comparable across countries—whose economic and ethno-linguistic conditions considerably differ—and respondent characteristics. The results cannot be explained by citizens’ concern about their future economic instability, learning about poor performance of military regimes, or media bias. These results could make an important contribution to our understanding of the diffusion of coups across countries that has long been discussed in the literature
How the Liberation Day Announcement is Shaping the Global Trade Order: From Free Trade to Fair Trade Agreements
Get PDFIt may be assumed that all of the United States’ trading partners were impacted by the recent “Liberation Day” announcement – an announcement which constitutes “two distinct tariff actions” – as will be highlighted in this paper. However, despite previous concerns of being targeted by their free trade agreement (FTA) partner, Canada and Mexico – as would have been or should be expected, have been exempted from the tariff imposition.
As well as addressing factors which have contributed to the shift from free trade to increasingly and predominantly protectionist stances and most likely, fair trade practices, this paper is aimed at highlighting and explaining the rationales behind the recent historical developments – as well as highlighting those factors that have triggered the build up to the Liberation Day Announcement of the 2nd April 2025.
It is remarked that “Trump’s reciprocal tariff doctrine, holds foreign countries accountable”. Against this backdrop of discontent with World Trade Organisation’s dispute resolution mechanisms, which will be further elaborated on, in the paper, the immediate and possible long term impacts of the Announcement, will be considered.
As well as exploring the reasons for recent developments – by way of reference to historical developments and data, the paper also considers the underlying frameworks governing the calculations of recent tariff rates and hikes. Whilst there are arguments regarding the validity of such calculations, or whether the current scenario justifies the basis for implementing “national emergency measures”, what can be regarded as an emergency response can be determined through a consideration of underlying and contributory factors.
If negotiations, and more specifically, bilateral negotiations, take place as hoped, between those countries impacted by the Liberation Day Announcement, financial stability across global markets is expected to be restored. However, if retaliatory measures follow – with an escalation of trade wars, possible repercussions should be cause for concern. The global trading system is still recovering from the recent crisis which was largely uncontrollable – hence, it is more likely (and hoped) that the recent market turbulence and volatilities will be short term
Central Bank Digital Coins (CBDCs) and Monetary Sovereignty: Opportunities and Risks in the European Context
Get PDFAdopting a common European digital currency seems likely to be a powerful monetary tool that will facilitate the implementation of policies such as quantitative easing and interest rate regulation. On the other hand, the risk of destabilisation of the banking system , requires careful planning and public awareness. CBDCs will strengthen the EU geopolitically and seem to have an environmental dimension. The debate within the EU and the ECB is intense both on issues of legitimacy under the European Treaties and on issues of democracy and privacy rights. In practice, this is a technological innovation with serious parallel economic, social and political consequences
PROTESTS AND RIOTS IN NIGERIA; APPLICATIONS AND IMPLICATION FOR NATIONAL ECONOMIC TRANSFORMATION
Get PDFPublic opinion expressed through organized protests is a long-standing concept which forms an integral component of the nation's pre-colonial and post-colonial environment, not just in the twenty-first century, but dating back to the medieval ages. Protests and demonstrations have traditionally been at the core of democratic and political discourse. Though the dynamics differ throughout dispensations, one aspect remains constant: the goals of pushing for change and expressly expressing dissatisfaction with a policy. However, the recent trends of violence deflate its importance in political decision-making processes. This paper evaluates the prevalence of protest in Nigeria, its root causes, effects and why protest failed to achieve its main objectives. Getting a glimpse of the past agitation in Nigeria from the following: the demands, the organizers, the setbacks, and the successes. This information is important to assess how these protests and demonstrations affect the socioeconomic welfare of the nation. This paper posits that disunity among protesters, corruption, excessive use of force by authorities, violence amongst others constitute the reasons why protest fail to achieve its objectives. This paper offers possible procedures on how protests can be effective in addressing identified challenges through stake holder consultation, deliberate policy initiation, implementations and application
Extreme weather events, home damage, and the eroding locus of control
Get PDFThe catastrophic consequences of natural disasters on social and economic systems are extensively documented, yet their influence on individuals' sense of control over their life outcomes remains unexplored. This study pioneers an investigation into the causal effects of natural disaster-related home damage on the locus of control. Utilizing Australian longitudinal data, we implement an individual fixed effects instrumental variables approach leveraging time-varying, exogenous exposure to local cyclones to address confounding factors. Our findings provide robust evidence that natural disaster-induced home damage statistically significantly and substantially diminishes individuals’ perception of control, particularly for those at the lower end of the locus of control distribution. This effect is disproportionately pronounced among older individuals, renters, and those from lower-income households. This newfound understanding offers opportunities for developing targeted interventions and support mechanisms to enhance resilience and assist these vulnerable populations following natural disasters
Coalitional substitution of players and the proportional Shapley value
Get PDFWe present a new axiomatization of the proportional Shapley value. Our study is based on three axioms: efficiency, which ensures that the total worth of the grand coalition is fully distributed among the players; the disjointly productive players property, which states that removing a player who has no cooperative interactions with another player does not affect that player's payoff; and a new axiom that makes the difference to the classical Shapley value. This axiom, the coalitional substitution of players property, involves a scenario in which a player's cooperative contribution to one coalition is replaced by that of a group of new players whose combined individual worths match that of the original player. The key point is that the payoffs to the remaining players remain unaffected
Governance Mechanisms and Procurement Outcomes in Higher Education: An Evidence-Based Synthesis
Get PDFPublic universities play a critical role in national development, yet their procurement systems are often undermined by weak governance structures that compromise efficiency, accountability, and value for money. This study explores how institutional governance reforms can strategically align with procurement objectives to enhance performance in higher education institutions. Drawing upon a systematic synthesis of peer-reviewed articles, the paper adopts a qualitative content analysis approach to identify key governance interventions and their impact on procurement efficiency, transparency, and ethical compliance. The findings reveal that legal and regulatory clarity, strong leadership commitment, robust monitoring and evaluation mechanisms, and digital transparency tools are central to driving procurement improvements. Furthermore, universities with participatory governance structures and clear accountability lines tend to report lower procurement irregularities and better stakeholder trust. The study offers evidence-based policy recommendations for codifying procurement laws, strengthening leadership accountability, investing in digital tools, and institutionalising monitoring frameworks. While the analysis is grounded in the sub-Saharan African context, the findings have broader applicability to public tertiary institutions globally. The paper concludes by highlighting directions for future research, including longitudinal assessments of governance reforms, comparative cross-institutional studies, and deeper investigations into digital procurement and institutional culture. The study contributes to the growing body of knowledge on procurement governance and offers practical insights for reforming university procurement systems towards greater integrity, sustainability, and institutional credibility