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dc.contributor.authorGUISO, Luigi
dc.contributor.authorSAPIENZA, Paolo
dc.contributor.authorZINGALES, Luigi
dc.date.accessioned2011-05-23T13:40:00Z
dc.date.available2011-05-23T13:40:00Z
dc.date.issued2008
dc.identifier.citationJournal of the European Economic Association, 2008, 6, 2-3, 295-320
dc.identifier.issn1542-4766
dc.identifier.urihttps://hdl.handle.net/1814/17380
dc.description.abstractTo explain the extremely long-term persistence (more than 500 years) of positive historical experiences of cooperation (Putnam 1993), we model the intergenerational transmission of priors about the trustworthiness of others. We show that this transmission tends to be biased toward excessively conservative priors. As a result, societies can be trapped in a low-trust equilibrium. In this context, a temporary shock to the return to trusting can have a permanent effect on the level of trust. We validate the model by testing its predictions on the World Values Survey data and the German Socio Economic Panel. We also present some anecdotal evidence that these priors are reflected in novels that originate in different parts of the country.
dc.language.isoen
dc.subjectSocial economics
dc.subjectIntergenerational relations
dc.subjectTrust
dc.subjectSocial capital
dc.subjectSocial relations
dc.subjectEquilibrium models
dc.subjectGermany
dc.titleAlfred Marshall lecture: social capital as good culture
dc.typeArticle
dc.neeo.contributorGUISO|Luigi|aut|EUI70005
dc.neeo.contributorSAPIENZA|Paolo|aut|
dc.neeo.contributorZINGALES|Luigi|aut|
dc.identifier.volume6
dc.identifier.startpage295
dc.identifier.endpage320
eui.subscribe.skiptrue
dc.identifier.issue02/03/11


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