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  3. Cambridge Studies in Economics, Choice, and Society

This interdisciplinary series promotes original theoretical and empirical research as well as integrative syntheses involving links between individual choice, institutions, and social outcomes. Contributions are welcome from across the social sciences, particularly in the areas where economic analysis is joined with other disciplines, such as comparative political economy, new institutional economics, and behavioral economics.

  • General Editors: Timur Kuran, Duke University, Peter J. Boetke, George Mason University

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26 results in Cambridge Studies in Economics, Choice, and Society

Page 1 of 2

Extralegal Governance
  • The Social Order of Illegal Markets in China
  • Peng Wang, Wanlin Lin
  • Coming soon
  • Expected online publication date:
    July 2025
    Print publication:
    31 July 2025
  • Drawing on insights from sociology and new institutional economics, Extralegal Governance provides the first comprehensive account of China's illegal markets by applying a socio-economic approach. It considers social legitimacy and state repression in examining the nature of illegal markets. It examines how power dynamics and varying levels of punishment shape exchange relationships between buyers and sellers. It identifies context-specific risks and explains how private individuals and organizations address these risks by developing extralegal governance institutions to facilitate social cooperation across various illegal markets. Adopting a multiple-case study design to sample China's illegal markets, this book utilizes four cases - street vending, small-property-rights housing, corrupt exchanges, and online loan sharks - to examine how market participants foster cooperation and social order in illegal markets.

Becoming Nations Again
  • The Journey Towards Tribal Self-Determination
  • Adam Crepelle
  • Coming soon
  • Expected online publication date:
    April 2025
    Print publication:
    30 April 2025
  • North America's Indigenous inhabitants operated effective governments long before European arrival. Tribes built cities, developed laws, and participated in transcontinental trade networks. European arrival, however, brought many hardships for Indians. Although tribes were guaranteed the right to self-govern on reservations, the United States imposed severe restraints on tribal autonomy resulting in socioeconomic maladies, such as poverty and crime. Today, federal policies continue to inhibit tribal self-governance. As a result, tribes continue to suffer from these social ills. Becoming Nations Again argues empowering tribal governments is the key to solving tribal problems. It moves to liberate tribes from the antiquated regulations that apply only to tribal lands and allow tribes to exercise jurisdiction over all people on their land. Once this occurs, tribes will be free to implement their own laws and participate in the federalist system. This title is also available as Open Access on Cambridge Core.

Out of Poverty
  • Sweatshops in the Global Economy
  • 2nd edition
  • Benjamin Powell
  • Published online:
    02 January 2025
    Print publication:
    09 January 2025
  • Out of Poverty provides a comprehensive defence of Third World sweatshops that does not put economic efficiency over people, but instead explores methods of improving the welfare of those in Third World countries. The author explains how sweatshops provide the best opportunity for workers; and how they play an important role in development, leading to better wages and working conditions. Using economic theory, empirical evidence, and historical investigation, Powell argues that the anti-sweatshop movement would harm the very workers it intends to help by creating less-desirable alternatives and undermining development. Including a new chapter on the 2013 Rana Plaza factory collapse in Bangladesh, this revised and expanded second edition also explores how sweatshop wages have changed and how poverty alleviation has progressed in countries with sweatshops in the late 1990s and early 2000s and how boycotting Uyghur forced labor in China differs other sweatshop boycotts.

Contracting in Japan
  • The Bargains People Make When Information is Costly, Commitment is Hard, Friendships are Unstable, and Suing is Not Worth It
  • J. Mark Ramseyer
  • Published online:
    10 August 2023
    Print publication:
    27 July 2023
  • Economic arrangements, Ramseyer writes, are structured and implemented with the intent and hope that they will be carried out with 'care, intelligence, discretion, and effort.' Yet entrepreneurs work with partial information about the products, and people, they are dealing with. Contracting in Japan illustrates this by examining five sets of negotiations and unusual contractual arrangements among non-specialist businessmen, and women, in Japan. In it, Ramseyer explores how sake brewers were able to obtain and market the necessary, but difficult-to-grow, sake rice that captured the local terroir; how Buddhist temples tried to compensate for rapidly falling donations by negotiating unusual funerary contracts; and how pre-war local elites used leasing instead of loans to fund local agriculture. Ramseyer examines these entrepreneurs, discovering how they structured contracts, made credible commitments, obtained valuable information, and protected themselves from adverse consequences to create, maintain, strengthen, and leverage the social networks in which they operated.

Following Their Leaders
  • Political Preferences and Public Policy
  • Randall G. Holcombe
  • Published online:
    16 March 2023
    Print publication:
    23 March 2023
  • Models of democratic decision-making tend to assume that voters have preferences and that candidates adjust their platforms to conform with those preferences; however, the direction of causation is largely the opposite. Political elites offer policy platforms to voters, and voters adopt those policies - they follow their leaders. Following Their Leaders argues that policies are designed by the elite and the electorate has little say. Preferences for public policy tend to be anchored in a political identity associated with a candidate, party, or ideology; voters' preferences on most issues are derived from their anchor preferences. Holcombe argues that because citizens adopt the policies offered by the elite, democratic institutions are ineffective constraints on the exercise of political power. This volume explores political institutions that help control the elite who exercise political power and discusses the implications political preferences have on democracies.

The Ideological Foundations of Qing Taxation
  • Belief Systems, Politics, and Institutions
  • Taisu Zhang
  • Published online:
    02 February 2023
    Print publication:
    09 February 2023
  • How states develop the capacity to tax is a question of fundamental importance to political science, legal theory, economics, sociology, and history. Increasingly, scholars believe that China's relative economic decline in the 18th and 19th centuries was related to its weak fiscal institutions and limited revenue. This book argues that this fiscal weakness was fundamentally ideological in nature. Belief systems created through a confluence of traditional political ethics and the trauma of dynastic change imposed unusually deep and powerful constraints on fiscal policymaking and institutions throughout the final 250 years of China's imperial history. Through the Qing example, this book combs through several interaction dynamics between state institutions and ideologies. The latter shapes the former, but the former can also significantly reinforce the political durability of the latter. In addition to its historical analysis of ideological politics, this book makes a major contribution to the longstanding debate on Sino-European divergence.

Land, the State, and War
  • Property Institutions and Political Order in Afghanistan
  • Jennifer Brick Murtazashvili, Ilia Murtazashvili
  • Published online:
    20 August 2021
    Print publication:
    09 September 2021
  • Although today's richest countries tend to have long histories of secure private property rights, legal-titling projects do little to improve the economic and political well-being of those in the developing world. This book employs a historical narrative based on secondary literature, fieldwork across thirty villages, and a nationally representative survey to explore how private property institutions develop, how they are maintained, and their relationship to the state and state-building within the context of Afghanistan. In this predominantly rural society, citizens cannot rely on the state to enforce their claims to ownership. Instead, they rely on community-based land registration, which has a long and stable history and is often more effective at protecting private property rights than state registration. In addition to contributing significantly to the literature on Afghanistan, this book makes a valuable contribution to the literature on property rights and state governance from the new institutional economics perspective.

The Politics of Order in Informal Markets
  • How the State Shapes Private Governance
  • Shelby Grossman
  • Published online:
    09 July 2021
    Print publication:
    24 June 2021
  • Property rights are important for economic exchange, but many governments don't protect them. Private market organizations can fill this gap by providing an institutional structure to enforce agreements, but with this power comes the ability to extort group members. Under what circumstances, then, will private organizations provide a stable environment for economic activity? Based on market case studies and a representative survey of traders in Lagos, Nigeria, this book argues that threats from the government can force an association to behave in ways that promote trade. The findings challenge the conventional wisdom that private good governance in developing countries thrives when the government keeps its hands off private group affairs. Instead, the author argues, leaders among traders behave in ways that promote trade primarily because of the threat of government intrusion.

Wretched Refuse?
  • The Political Economy of Immigration and Institutions
  • Alex Nowrasteh, Benjamin Powell
  • Published online:
    10 December 2020
    Print publication:
    17 December 2020
  • Economic arguments favoring increased immigration restrictions suggest that immigrants undermine the culture, institutions, and productivity of destination countries. But is this actually true? Nowrasteh and Powell systematically analyze cross-country evidence of potential negative effects caused by immigration relating to economic freedom, corruption, culture, and terrorism. They analyze case studies of mass immigration to the United States, Israel, and Jordan. Their evidence does not support the idea that immigration destroys the institutions responsible for prosperity in the modern world. This nonideological volume makes a qualified case for free immigration and the accompanying prosperity.

Escaping Paternalism
  • Rationality, Behavioral Economics, and Public Policy
  • Mario J. Rizzo, Glen Whitman
  • Published online:
    02 December 2019
    Print publication:
    05 December 2019
  • The burgeoning field of behavioral economics has produced a new set of justifications for paternalism. This book challenges behavioral paternalism on multiple levels, from the abstract and conceptual to the pragmatic and applied. Behavioral paternalism relies on a needlessly restrictive definition of rational behavior. It neglects nonstandard preferences, experimentation, and self-discovery. It relies on behavioral research that is often incomplete and unreliable. It demands a level of knowledge from policymakers that they cannot reasonably obtain. It assumes a political process largely immune to the effects of ignorance, irrationality, and the influence of special interests and moralists. Overall, behavioral paternalism underestimates the capacity of people to solve their own problems, while overestimating the ability of experts and policymakers to design beneficial interventions. The authors argue instead for a more inclusive theory of rationality in economic policymaking.

Governing Complexity
  • Analyzing and Applying Polycentricity
  • Edited by Andreas Thiel, William A. Blomquist, Dustin E. Garrick
  • Published online:
    13 September 2019
    Print publication:
    03 October 2019
  • There has been a rapid expansion of academic interest and publications on polycentricity. In the contemporary world, nearly all governance situations are polycentric, but people are not necessarily used to thinking this way. Governing Complexity provides an updated explanation of the concept of polycentric governance. The editors provide examples of it in contemporary settings involving complex natural resource systems, as well as a critical evaluation of the utility of the concept. With contributions from leading scholars in the field, this book makes the case that polycentric governance arrangements exist and it is possible for polycentric arrangements to perform well, persist for long periods, and adapt. Whether they actually function well, persist, or adapt depends on multiple factors that are reviewed and discussed, both theoretically and with examples from actual cases.

Persecution and Toleration
  • The Long Road to Religious Freedom
  • Noel D. Johnson, Mark Koyama
  • Published online:
    18 February 2019
    Print publication:
    14 February 2019
  • Religious freedom has become an emblematic value in the West. Embedded in constitutions and championed by politicians and thinkers across the political spectrum, it is to many an absolute value, something beyond question. Yet how it emerged, and why, remains widely misunderstood. Tracing the history of religious persecution from the Fall of Rome to the present-day, Noel D. Johnson and Mark Koyama provide a novel explanation of the birth of religious liberty. This book treats the subject in an integrative way by combining economic reasoning with historical evidence from medieval and early modern Europe. The authors elucidate the economic and political incentives that shaped the actions of political leaders during periods of state building and economic growth.

Humanomics
  • Moral Sentiments and the Wealth of Nations for the Twenty-First Century
  • Vernon L. Smith, Bart J. Wilson
  • Published online:
    04 January 2019
    Print publication:
    24 January 2019
  • While neo-classical analysis works well for studying impersonal exchange in markets, it fails to explain why people conduct themselves the way they do in their personal relationships with family, neighbors, and friends. In Humanomics, Nobel Prize-winning economist Vernon L. Smith and his long-time co-author Bart J. Wilson bring their study of economics full circle by returning to the founder of modern economics, Adam Smith. Sometime in the last 250 years, economists lost sight of the full range of human feeling, thinking, and knowing in everyday life. Smith and Wilson show how Adam Smith's model of sociality can re-humanize twenty-first century economics by undergirding it with sentiments, fellow feeling, and a sense of propriety - the stuff of which human relationships are built. Integrating insights from The Theory of Moral Sentiments and the Wealth of Nations into contemporary empirical analysis, this book shapes economic betterment as a science of human beings.

Public Entrepreneurship, Citizenship, and Self-Governance
  • Paul Dragos Aligica
  • Published online:
    26 July 2018
    Print publication:
    16 August 2018
  • In this book Paul Dragos Aligica revisits the theory of political self-governance in the context of recent developments in behavioral economics and political philosophy that have challenged the foundations of this theory. Building on the work of the 'Bloomington School' created by Nobel Laureate Elinor Ostrom and Public Choice political economy co-founder Vincent Ostrom, Aligica presents a fresh conceptualization of the key processes at the core of democratic-liberal governance systems involving civic competence and public entrepreneurship. The result is not only a re-assessment and re-articulation of the theories constructed by the Bloomington School of Public Choice, but also a new approach to several cutting-edge discussions relevant to governance studies and applied institutional theory, such as the debates generated by the recent waves of populism, paternalism and authoritarianism.

Political Capitalism
  • How Economic and Political Power Is Made and Maintained
  • Randall G. Holcombe
  • Published online:
    13 July 2018
    Print publication:
    19 July 2018
  • Problems associated with cronyism, corporatism, and policies that favor the elite over the masses have received increasing attention in recent years. Political Capitalism explains that what people often view as the result of corruption and unethical behavior are symptoms of a distinct system of political economy. The symptoms of political capitalism are often viewed as the result of government intervention in a market economy, or as attributes of a capitalist economy itself. Randall G. Holcombe combines well-established theories in economics and the social sciences to show that political capitalism is not a mixed economy, or government intervention in a market economy, or some intermediate step between capitalism and socialism. After developing the economic theory of political capitalism, Holcombe goes on to explain how changes in political ideology have facilitated the growth of political capitalism, and what can be done to redirect public policy back toward the public interest.

Generating Generosity in Catholicism and Islam
  • Beliefs, Institutions, and Public Goods Provision
  • Carolyn M. Warner, Ramazan Kılınç, Christopher W. Hale, Adam B. Cohen
  • Published online:
    24 April 2018
    Print publication:
    10 May 2018
  • Using an innovative methodological approach combining field experiments, case studies, and statistical analyzes, this book explores how the religious beliefs and institutions of Catholics and Muslims prompt them to be generous with their time and resources. Drawing upon research involving more than 1,000 Catholics and Muslims in France, Ireland, Italy, and Turkey, the authors examine Catholicism and Islam in majority and minority contexts, discerning the specific factors that lead adherents to help others and contribute to social welfare projects. Based on theories from political science, economics, religious studies and social psychology, this approach uncovers the causal connections between religious community dynamics, religious beliefs and institutions, and socio-political contexts in promoting or hindering the generosity of Muslims and Catholics. The study also provides insight into what different religious beliefs mean to Muslims and Catholics, and how they understand those concepts.

Tomorrow 3.0
  • Transaction Costs and the Sharing Economy
  • Michael C. Munger
  • Published online:
    07 March 2018
    Print publication:
    22 March 2018
  • With the growing popularity of apps such as Uber and Airbnb, there has been a keen interest in the rise of the sharing economy. Michael C. Munger brings these new trends in the economy down to earth by focusing on their relation to the fundamental economic concept of transaction costs. In doing so Munger brings a fresh perspective on the 'sharing economy' in clear and engaging writing that is accessible to both general and specialist readers. He shows how, for the first time, entrepreneurs can sell reductions in transaction costs, rather than reductions in the costs of the products themselves. He predicts that smartphones will be used to commodify excess capacity, and reaches the controversial conclusion that a basic income will be required as a consequence of this new 'transaction costs revolution'.

Expert Failure
  • Roger Koppl
  • Published online:
    01 February 2018
    Print publication:
    08 February 2018
  • The humble idea that experts are ordinary human beings leads to surprising conclusions about how to get the best possible expert advice. All too often, experts have monopoly power because of licensing restrictions or because they are government bureaucrats protected from both competition and the consequences of their decisions. This book argues that, in the market for expert opinion, we need real competition in which rival experts may have different opinions and new experts are free to enter. But the idea of breaking up expert monopolies has far-reaching implications for public administration, forensic science, research science, economics, America's military-industrial complex, and all domains of expert knowledge. Roger Koppl develops a theory of experts and expert failure, and uses a wide range of examples - from forensic science to fashion - to explain the applications of his theory, including state regulation of economic activity.

The Laws and Economics of Confucianism
  • Kinship and Property in Preindustrial China and England
  • Taisu Zhang
  • Published online:
    21 September 2017
    Print publication:
    12 October 2017
  • Tying together cultural history, legal history, and institutional economics, The Laws and Economics of Confucianism: Kinship and Property in Preindustrial China and England offers a novel argument as to why Chinese and English preindustrial economic development went down different paths. The dominance of Neo-Confucian social hierarchies in Late Imperial and Republican China, under which advanced age and generational seniority were the primary determinants of sociopolitical status, allowed many poor but senior individuals to possess status and political authority highly disproportionate to their wealth. In comparison, landed wealth was a fairly strict prerequisite for high status and authority in the far more 'individualist' society of early modern England, essentially excluding low-income individuals from secular positions of prestige and leadership. Zhang argues that this social difference had major consequences for property institutions and agricultural production.

Islam Instrumentalized
  • Religion and Politics in Historical Perspective
  • Jean-Philippe Platteau
  • Published online:
    13 July 2017
    Print publication:
    06 June 2017
  • In this book, economist Jean-Philippe Platteau addresses the question: does Islam, the religion of Muslims, bear some responsibility for a lack of economic development in the countries in which it dominates? In his nuanced approach, Platteau challenges the widespread view that the doctrine of Islam is reactionary in the sense that it defends tradition against modernity and individual freedom. He also questions the view that fusion between religion and politics is characteristic of Islam and predisposes it to theocracy. He disagrees with the substantivist view that Islam is a major obstacle to modern development because of a merging of religion and the state, or a fusion between the spiritual and political domains. But he also identifies how Islam's decentralized organization, in the context of autocratic regimes, may cause political instability and make reforms costly.

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