ACCTG 1 Lecture Notes - Lecture 15: Human Capital, Nazi Party, Ultimatum Game
Document Summary
Paper: institutions: definition (north and thomas, efficient organization of society, alignment of private and social returns, emergence, functioning and change of institutions, case studies: the black death, the military revolution, north and weingast (1989): constitutions and. Commitment: fight between king and parliament, civil war and glorious revolution, institutional changes through the glorious. Revolution: economic effects, spanish reconquest, reading regression tables, interpreting coefficients in various models, fixed effects to control for province-level factors. If a province covers more than one stage, calculate proportion of province in each stage and calculate weighted average: ols regression. Merchants, cities, agents: merchants and cities: bilateral vs. multilateral reputation mechanisms, the merchant guild, merchants and agents: a principal-agent problem, collectivist vs. individualist societies, cities, panel models, fixed effects (time and city, interpreting coefficients in panel models. Other potential channels: like lower population density, degree of assimilation between muslims & christians, degree of market fragmentation, power of church, migration should effect gdp immediately.
