Political economy with affect: On the role of emotions and relationships in political economics |
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Institution: | 1. California Institute of Technology, 1200 East California Blvd, Pasadena, CA 91125, United States;2. Calgent LLC, 11011 Torreyana Road, San Diego, CA 92121, United States;1. LEO, Université François Rabelais, Tours. 50, Avenue Jean Portalis BP 37206, Tours Cedex 03 France;2. Università di Salerno, Dipartimento di Scienze Economiche e Statistiche and CSEF, Via Giovanni Paolo II, 132, 84084 Fisciano SA, Italy;1. SIM University (UniSIM), Singapore;2. Austrian Institute of Economic Research (WIFO), Vienna, Austria;1. School of Economics, Singapore Management University, 90 Stamford Road, 178903, Singapore;2. Division of Economics, School of Humanities and Social Sciences, Nanyang Technological University, 14 Nanyang Drive, 637332, Singapore |
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Abstract: | This paper discusses and provides experimental evidence on the role of emotions and, in particular, the neglected role of endogenous affective relationships (bonding) in three key areas of political economy: (i) appropriation, with compliance or resistance as response; (ii) competition for access to appropriation and its potential for escalation and de-escalation of the inherent conflict; and (iii) determinants of (large scale) collective action. To that purpose, a series of experiments on power-to-take games and public good games are presented and put into perspective. Furthermore, the relevance of an affective social ties model for explaining these experimental findings is investigated. Finally, some important political economic implications are addressed. |
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