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on Heterodox Microeconomics |
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Issue of 2022‒03‒14
twenty papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Thomas I. Palley |
| Abstract: | The VoCs approach to capitalism has the potential to transform economics. It tacitly emphasizes the plasticity of economies, whereby their character and outcomes are significantly a matter of choice. This paper augments VoCs theory to include a distinction between varieties and varietals of capitalism. Drawing on biology, varieties correspond to species and varietals correspond to sub-species. The paper proposes an analytical framework that unifies VoCs theory. It adds a mesoeconomics that links macroeconomics and microeconomics. That mesoeconomics concerns the institutions, behavioral norms, rules and regulations, and policies that characterize the economy and influence its performance. The mesoeconomic structure is described using the metaphor of a box, the six sides of which correspond to the major dimensions of capitalist economies. The design of the box is the product of societal and political choices, which places politics at the center of VoCs analysis. Policy space and policy lock-in are important concerns as they impact the choice set. The fact that economies inevitably involve choice means there is an inescapable normative question regarding what type of capitalism society will have. |
| Keywords: | Varieties of capitalism, varietals of capitalism, mesoeconomics, globalization, policy space, policy lock-in |
| JEL: | P0 P1 D2 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:imk:fmmpap:76-2022&r= |
| By: | Jan Priewe (HTW Berlin) |
| Abstract: | The article discusses the ongoing green transition towards climate neutrality in 2050 with a focus on the options of green growth, zero- or de-growth. First, the key facts about the greenhouse effect and the status quo are shown with special attention to the industrialisation of emerging economies as the key contributors to greenhouse gas emissions since about 1980. Second, the features and policies for facilitating the transition are analysed. The carbon price emerges as a key global price that needs public rather than market control. Third, the core debates on the feasibility of economic growth in ecological economics are used to shed more light on the present issues at stake. Finally, the quest for moderate global green growth is confirmed in order to accomplish decarbonization of the planet and terminate extractive capitalism as far as fossil energy is concerned; however, these attempts cannot evade the finiteness of natural resources, including land and renewable resources. The green transition leads likely close to global zero-growth of GDP which would eventually terminate the age of capital accumulation, the heart of capitalism. |
| Keywords: | growth theory, energy economics, decarbonisation, zero-growth, de-growth, climate change, carbon prices, capitalism |
| JEL: | O47 P18 P28 P47 Q01 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:imk:fmmpap:73-2021&r= |
| By: | Pierre Gosselin (IF - Institut Fourier - CNRS - Centre National de la Recherche Scientifique - UGA [2016-2019] - Université Grenoble Alpes [2016-2019]); Aïleen Lotz (Cerca Trova); Marc Wambst (IRMA - Institut de Recherche Mathématique Avancée - UNISTRA - Université de Strasbourg - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This paper presents a model of capital accumulation for a large number of heterogenous producer-consumers in an exchange space in which interactions depend on agents' positions. Each agent is described by his production, consumption, stock of capital, as well as the position he occupies in this abstract space. Each agent produces one differentiated good whose price is fixed by market clearing conditions. Production functions are Cobb-Douglas, and capital stocks follow the standard capital accumulation dynamic equation. Agents consume all goods but have a preference for goods produced by their closest neighbors. Agents in the exchange space are subject both to attractive and repulsive forces. Exchanges drive agents closer, but beyond a certain level of proximity, agents will tend to crowd out more distant agents. The present model uses a formalism based on statistical field theory developed earlier by the authors. This approach allows the analytical treatment of economic models with an arbitrary number of agents, while preserving the system's interactions and complexity at the individual level. Our results show that the dynamics of capital accumulation and agents' position in the exchange space are correlated. Interactions in the exchange space induce several phases of the system. A first phase appears when attractive forces are limited. In this phase, an initial central position in the exchange space favors capital accumulation in average and leads to a higher level of capital, while agents far from the center will experience a slower accumulation process. A high level of initial capital drives agents towards a central position, i.e. improve the terms of their exchanges: they experience a higher demand and higher prices for their product. As usual, high capital productivity favors capital accumulation, while higher rates of capital depreciation reduce capital stock. In a second phase, attractive forces are predominant. The previous results remain, but an additional threshold effect appears. Even though no restriction was imposed initially on the system, two types of agents emerge, depending on their initial stock of capital. One type of agents will remain above the capital threshold and occupy and benefit from a central position. The other type will remain below the threshold, will not be able to break it and will remain at the periphery of the exchange space. In this phase, capital distribution is less homogenous than in the first phase. |
| Keywords: | C60,Phase Transition,Ex- change Space,Statistical Field Theory,Path Integrals,Capital Accumulation,Multi-Agent Model,Interaction Agents JEL Classification: C02,E1,E00 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02280634&r= |
| By: | Maxfield, Sean Alexander |
| Abstract: | No longer does society consider the full extent of the argument and consequences or benefits of a system change. All the record-breaking economic success of the last few decades simply furthers a divide between people/organizations that have money and people/organizations that need money. However, those that can view this divide assign the capitalistic system as the culprit when in fact it is the modern mutation of capitalism that is at fault. Within modern neoclassical economies, there is no form of value-based meritocracy between people and organizations. |
| Date: | 2021–12–18 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:j9sgq&r= |
| By: | Mark Setterfield (The New School for Social Research); Robert A. Blecker (American University) |
| Abstract: | This paper provides an institutional-analytical account of changes in the structure of the US Phillips curve (PC) during the post-war period. It does so by restoring conflict and power to the forefront of macro theory and, in particular, the wage- and price-setting behaviour of workers and firms. The resulting account is consistent with the main stylized facts that characterize the evolution of the US PC since 1948: the disappearance and subsequent reappearance of a 'standard' PC (relating the level of the inflation rate, not the change in this rate, to the rate of unemployment); and the flattening of the PC since the 1990s. |
| Keywords: | Philips Curve, inflation, unemployment, natural rate hypothesis, bargaining power, institutions |
| JEL: | E12 E24 E25 E31 N12 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:imk:fmmpap:74-2021&r= |
| By: | Arief, A. Anggie Zabrina; Farida, Puspa; , Muh.Hizbullah; , Dahlia |
| Abstract: | In human life, materialism dominates. Human wants are unlimited, so there are various efforts to satisfy human desires. In fact, humans have weaknesses and shortcomings, so not all desires must be fulfilled. Islam as rahmatan lil alamin guarantees that resources can be distributed fairly. One of the efforts to ensure fair distribution of resources is to regulate how consumption patterns are in accordance with Islamic sharia which has been determined by the Al-Quran and As-Sunnah. Human desire to fulfill their needs has given birth to the concept of consumption theory. |
| Date: | 2021–12–20 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:sqdw7&r= |
| By: | Emanuele Citera (New School for Social Research); Shyam Gouri Suresh (Davidson College); Mark Setterfield (New School for Social Research) |
| Abstract: | We construct a model of cyclical growth with agent-based features designed to study the network origins of aggregate fluctuations from a demand-side perspective. In our model, aggregate fluctuations result from variations in investment behavior at firm level motivated by endogenously-generated changes in `animal spirits' or the state of long run expectations(SOLE). In addition to being influenced by their own economic conditions, firms pay attention to the performance of first-degree network neighbours, weighted (to differing degrees) by the centrality of these neighbours in the network, when revising their SOLE. This allows us to analyze the effects of the centrality of linked network neighbours on the amplitude of aggregate fluctuations. We show that the amplitude of fluctuations is significantly affected by the eigenvector centrality, and the weight attached to the eigenvector centrality, of linked network neighbours. The dispersion of this effect about its mean is shown to be similarly important, resulting in the possibility that network properties can result in `great moderations' giving way to sudden increases in the volatility of aggregate economic performance. |
| Keywords: | Aggregate fluctuations, cyclical growth, animal spirits, state of long run expectations, agent-based model, random network, preferential attachment, small world. |
| JEL: | C63 E12 E32 E37 O41 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:imk:fmmpap:72-2021&r= |
| By: | , Khadijah; Kurniawan, Rachmad Risqy |
| Abstract: | This paper will discuss the dangers of riba qardh and will also lead to alternative qardh contracts as a solution in Islamic financial institutions. Most people already know that usury is forbidden in Islam. And not a few people know that usury has a harmful negative impact on the perpetrator and others. And what the author will discuss now is the danger of qardh usury. That is a borrowing and borrowing contract that is added with shrouded usury. And alternative qardh contracts as a solution to avoid the impact of the dangers of qardh usury in Islamic financial institutions. |
| Date: | 2022–01–02 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:sgvrm&r= |
| By: | Hager, Anselm; Hennicke, Moritz; Krause, Werner; Mergele, Lukas |
| Abstract: | The fall of the Berlin Wall marks one of the largest transformations of the 20th century. At its core, the year 1990 brought two new systems to Eastern Europe: capitalism and democracy. Yet, to this day, Eastern Europeans show distinctly negative attitudes toward the Western world order, and democratic and market institutions across the region are far from perfect. What explains this unsuccessful transformation? This paper points to the rushed privatization of East European economies as one plausible driver of citizens’ discontent with capitalism and democracy. Using micro-level data from East Germany, we show that firm privatizations led to a marked resurgence of the successor of the former Socialist Unity Party as early as 1994. We argue that this effect is likely due to perceived injustice: Socialist voting thrived whenever firms were sold to Western elites, which local residents took as a sign that capitalism is not meritocratic. |
| Date: | 2021–12–30 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:cmsyn&r= |
| By: | Safitri, Ida; Kurniawan, Rachmad Risqy |
| Abstract: | Hajj is one of the pillars of Islam that must be believed and carried out by every Muslim who meets the mandatory requirements which will complete the fifth pillar of Islam. Indonesia is the largest contributor to the Hajj pilgrims in the world, so the National Sharia Council provides an opportunity for Islamic Financial Institutions to respond to the needs of the community in various products. Bank Syariah Mandiri is one of the Islamic financial institutions that provides services for the pilgrimage by using a system that can relieve customers, namely mabrur savings. This savings account aims to provide convenience for prospective Hajj pilgrims by using some of their money so that they can carry out the costs of the pilgrimage. |
| Date: | 2021–12–07 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:mbyn3&r= |
| By: | Baines, Joseph; Hager, Sandy Brian |
| Abstract: | This article examines the role of the Big Three asset management firms – BlackRock, Vanguard and State Street – in corporate environmental governance. Specifically, it charts the Big Three’s relationships with the publicly-owned Carbon Majors: a small group of fossil fuels, cement and mining companies responsible for the bulk of industrial greenhouse gas emissions. It finds that the Big Three much more often than not oppose rather than support shareholder resolutions aimed at improving environmental governance. Notably, this is even the case with the Big Three’s environmental, social and governance funds. A more fine-gained analysis shows that the combined voting decisions of the Big Three are more likely to lead to the failure than to the success of environmental resolutions and that, whether they succeed or fail, these resolutions tend to be narrow in scope and piecemeal in nature. Based on these findings, the article raises serious doubts about the Big Three’s credentials as environmental stewards. |
| Keywords: | climate,finance,oil,ownership and control |
| JEL: | P16 P26 P48 P28 G2 G3 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:249674&r= |
| By: | Pyburn, Rhiannon; Stoian, Dietmar; Quintero, Sandra |
| Abstract: | Over the past 20 years, value chain development (VCD) initiatives and value chain research have increasingly integrated gender dimensions to allow for gender-differentiated employment and income opportunities and other benefits for women and men, and to address the exploitation of women’s labor (Pyburn and Kruijssen 2021). This research often addresses constraints to women’s participation in specific value chains, such as administrative procedures in transboundary fish trade (Ratner et al. 2018) or disproportionate harassment of women food traders by authorities in Nigeria (Resnick et al. 2019). This brief draws on research conducted under the CGIAR Research Program on Policies, Institutions, and Markets (PIM) to illustrate how VCD supports and constrains progress toward gender equality and women’s empowerment. In particular, the brief summarizes work from a portfolio of six PIM co-funded projects (2020–2021) on gender dynamics in value chains beyond the production node and single commodity analysis (Box 1), a book chapter in a CGIAR-wide gender publication (Pyburn and van Eerdewijk 2021), the Pro-WEAI (project-level Women’s Empowerment in Agriculture Index) for Market Inclusion, and other gender-integrated value chain work within PIM (Crimi 2018; Vos and Pyburn 2021), and provides an outlook for future research. |
| Keywords: | WORLD; gender; value chains; women's participation; smallholders; women's empowerment; gender responsive approaches; women |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:othbrf:1293759959&r= |
| By: | Aguilar Revelo, Lorena |
| Abstract: | This publication recommends actions to enable the machineries for the advancement of women to strengthen gender mainstreaming in public policy instruments and implementation actions in relation to climate change. This would enable the lead agencies and managers responsible for the implementation of public policies on behalf of gender equality and women’s autonomy to become more actively involved, and to play a transformative leadership role in the climate change response, both nationally and internationally. The objectives are to ensure that gender equality and the autonomy of all women and girls, in their diversity, are prioritized and comprehensively addressed in the climate change actions deployed both nationally and regionwide; and to enable women to participate fully as climate actors, bolstering their resilience and that of their communities to fulfil the 2030 Agenda and achieve the goals of the Paris Agreement. The document is also addressed to the institutions that form the gender architecture in the different branches and levels of government, along with civil society entities, especially feminist organizations, academic sectors, and, in general, all sectors interested and involved in promoting public policies in response to climate change and the coronavirus disease (COVID-19). |
| Keywords: | CAMBIO CLIMATICO, INCORPORACION DE LA PERSPECTIVA DE GENERO, IGUALDAD DE GENERO, MUJERES, ADELANTO DE LA MUJER, DERECHOS DE LA MUJER, DESARROLLO SOSTENIBLE, PARTICIPACION POLITICA, ACCESO A LA INFORMACION, RENDICION DE CUENTAS, LEYES Y REGLAMENTOS, ORGANIZACIONES FEMENINAS, MOVILIZACION DE RECURSOS, TOMA DE DECISIONES, GENERO, CLIMATE CHANGE, GENDER MAINSTREAMING, GENDER EQUALITY, WOMEN, WOMEN'S ADVANCEMENT, WOMEN'S RIGHTS, GENDER, SUSTAINABLE DEVELOPMENT, POLITICAL PARTICIPATION, ACCESS TO INFORMATION, ACCOUNTABILITY, LAWS AND REGULATIONS, WOMEN'S ORGANIZATIONS, RESOURCES MOBILIZATION, DECISION-MAKING |
| Date: | 2021–10–20 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col040:47358&r= |
| By: | Ruben Tarne (Macroeconomic Policy Institute, University of Groningen); Dirk Bezemer (University of Groningen); Thomas Theobald (Macroeconomic Policy Institute) |
| Abstract: | This paper analyses the effects of borrower-specific credit constraints on macroeconomic outcomes in an agent-based housing market model, calibrated using U.K. household survey data. We apply different Loan-to-Value (LTV) caps for different types of agents: first-time-buyers, second and subsequent buyers, and buy-to-let investors. We then analyse the outcomes on household debt, wealth inequality and consumption volatility. The households' consumption function, in the model, incorporates a wealth term and income-dependent marginal propensities to consume. These characteristics cause the consumption-to-income ratios to move procyclically with the housing cycle. In line with the empirical literature, LTV caps in the model are overall effective while generating (distributional) side effects. Depending on the specification, we find that borrower-specific LTV caps affect household debt, wealth inequality and consumption volatility differently, mediated by changes in the housing market transaction patterns of the model. Restricting investors' access to credit leads to substantial reductions in debt, wealth inequality and consumption volatility. Limiting first-time and subsequent buyers produces only weak effects on household debt and consumption volatility, while limiting first-time buyers even increases wealth inequality. Hence, our findings emphasise the importance of applying borrower-specific macroprudential policies and, specifically, support a policy approach of primarily restraining buy-to-let investors' access to credit. |
| Keywords: | Agent-based modeling, Macroprudential regulation, Household indebtedness, Housing market, Wealth inequality |
| JEL: | G51 E58 C63 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:imk:fmmpap:70-2021&r= |
| By: | Ruben Tarne (Macroeconomic Policy Institute IMK and Faculty of economics and Business, University of Groningen); Dirk Bezemer; Thomas Theobald (Macroeconomic Policy Institute IMK) |
| Abstract: | This paper analyses the effects of borrower-specific credit constraints on macroeconomic outcomes in an agent-based housing market model, calibrated using U.K. household survey data. We apply different Loan-to-Value (LTV) caps for different types of agents: first-time-buyers, second and subsequent buyers, and buy-to-let investors. We then analyse the outcomes on household debt, wealth inequality and consumption volatility. The households' consumption function, in the model, incorporates a wealth term and income-dependent marginal propensities to consume. These characteristics cause the consumption-to-income ratios to move procyclically with the housing cycle. In line with the empirical literature, LTV caps in the model are overall effective while generating (distributional) side effects. Depending on the specification, we find that borrower-specific LTV caps affect household debt, wealth inequality and consumption volatility differently, mediated by changes in the housing market transaction patterns of the model. Restricting investors' access to credit leads to substantial reductions in debt, wealth inequality and consumption volatility. Limiting first-time and subsequent buyers produces only weak effects on household debt and consumption volatility, while limiting first-time buyers even increases wealth inequality. Hence, our findings emphasise the importance of applying borrower-specific macroprudential policies and, specifically, support a policy approach of primarily restraining buy-to-let investors' access to credit. |
| Keywords: | Agent-based modeling, Macroprudential regulation, Household indebtedness, Housing market, Wealth inequality |
| JEL: | G51 E58 C63 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:imk:wpaper:212-2021&r= |
| By: | ; Kurniawan, Rachmad Risqy |
| Abstract: | In this article, we will discuss the commands and prohibitions in transacting with conventional banks and their impact on the growth of Islamic banking. In the Qur'an, it has been explained that Muslims are prohibited from doing usury and it is God's rule to leave his servants in the transaction of usury and don't even approach him. Therefore, Islamic banks are banks that have securities that carry out business activities based on sharia principles, or Islamic legal principles regulated in the fatwa of the Indonesian ulema Council such as the principles of justice and balance, benefit, universalism, and do not contain gharar, maysir, usury, tyranny and unlawful object. While conventional banks are banks that carry out conventional business activities which in their activities provide services in payment traffic based on established procedures and provisions. |
| Date: | 2021–12–07 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:u9kh5&r= |
| By: | Pertiwi, Nazela; Kurniawan, Rachmad Risqy |
| Abstract: | Islam is a belief that has a social teaching dimension, to encourage poverty alleviation through the exploitation (ZIS) of "zakat, infaq, and alms". Furthermore, this charity is an instrument in economic empowerment activities, namely efforts to provide free assistance to help Muslims who are less economically empowered so that they are able to help themselves. NU means the largest Islamic organization in Indonesia. NU means an inseparable part in the dynamics of the history of the development of the Indonesian nation. Indonesia in general. While NU's organizational principles have long held the concept of economic welfare, indirectly NU still seems to not prioritize empowerment in the economic sector. When dealing with the MEA (Asean Economic Community), NU's strategies and actions in carrying out the mandate to increase the welfare of the people must be right. The accuracy of the tactics and actions in question is of course permanent based on a clear religious dimension. Islam kepercayaan yang berdimensi ajaran social, buat mendorong pengentasan kemiskinan melalui eksploitasi (ZIS) “zakat, infaq, dan sedekah” . Selanjutnya Sedekah ini sebagai instrument dalam pada kegiatan pemberdayaan ekonomi, yakni upaya bantuan gratis pertolongan pertolongan pada kaum muslimim yang kurang berdaya secara ekonomi agar mereka sanggup menolong dirinya sendiri. NU artinya ormas Islam terbesar dalam Indonesia. NU artinya bagian yang mampu dipisahkan dalam dinamika sejarah perkembangan bangsa Indonesia. Indonesia pada umumnya. Ketika di dalam prinsip keorganisasian NU sudah lama mengadakan konsep kesejahteraan ekonomi, tetapi secara tidak langsung NU masih terkesan kurang memprioritaskan pemberdayaan pada sektor ekonomi. Ketika sedang berhadapan dengan MEA (Masyarakat Ekonomi Asean), strategi & tindakan NU dalam mengemban amanat buat meninggikan kesejahteraan umat harus dengan tepat. Ketepatan taktik & tindakan yang dimaksud tentu permanen berlandaskan dalam dimensi keagamaan yang jelas. |
| Date: | 2021–12–06 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:utyg5&r= |
| By: | Akramov, Kamiljon; Carrillo, Lucia; Kosec, Katrina |
| Abstract: | The covid-19 pandemic has had devastating effects globally; it has caused health crises and economic recessions, leading unemployment to spike and disrupting food systems and supply chains. In the heavily remittance-dependent context of Tajikistan, however, migration has continued – and appears to have become increasingly dominated by men. In this context, what has happened to women’s perceptions of economic prospects, as well as the well-being of their households? How has women’s involvement in decision-making evolved? And to what extent do out-migration or in-migration of household members predict changes in women’s decision-making power? We consider these questions using a September – October 2020 phone survey deployed in Khatlon province, Tajikistan that successfully tracked 87% of households that had been surveyed in person in 2018. We find that both genders have similar expectations for their agricultural production (harvests), but women are slightly more likely to identify concerns with rising prices and a lack of access to financial services. Overall, we find little in the way of evidence that women’s involvement in intra-household decision-making declined as a result of the pandemic—though this is from a low base. However, we find that women are less likely than are men to report improvements in women’s decision-making authority. Further, we find that out-migration of household members, which is dominated by men, is associated with improvements in women’s decision-making power, particularly with respect to decisions about how to spend household income. Overall, our results point to the need for additional analyses of the gendered impacts of shocks on women in the Central Asia region. |
| Date: | 2021–12–30 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:j7vrm&r= |
| By: | Ernest Liu (Princeton University); Aleh Tsyvinski (Yale University) |
| Abstract: | We associate a dynamical system with input-output networks and study its spectral properties. Specifically, we develop a dynamic production network model featuring adjustment costs of changing inputs and thus gradual recovery from temporary TFP shocks. First, we explicitly solve for the output and welfare effects of temporary shocks. We show shocks to sectors that generate significant sales through distant linkages to the consumer are most damaging. Second, we eigendecompose the input-output matrix and show, because higher-order linkages take longer to recover, fewer eigenvectors are needed to represent the welfare impact of sectoral shocks in the dynamic economy compared to the Domar weights. Third, we analyze the U.S. input-output structure and show the welfare impact of temporary shocks has a low-dimensional, 4-factor structure (out of 171 eigenvectors). Finally, we revisit the historical use of input-output analysis in target selection or bombing Nazi Germany and Imperial Japan during WWII. |
| Keywords: | dynamical system, input-output network, |
| JEL: | E00 E23 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:pri:econom:2021-13&r= |
| By: | Arnaud Tognetti (Karolinska Institutet [Stockholm], IAST - Institute for Advanced Study in Toulouse); Valerie Durand (UMR ISEM - Institut des Sciences de l'Evolution de Montpellier - EPHE - École pratique des hautes études - PSL - Université Paris sciences et lettres - UM - Université de Montpellier - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - CNRS - Centre National de la Recherche Scientifique - Institut de recherche pour le développement [IRD] : UR226); Dimitri Dubois (CEE-M - Centre d'Economie de l'Environnement - Montpellier - UMR 5211 - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Melissa Barkat‐defradas (UMR ISEM - Institut des Sciences de l'Evolution de Montpellier - EPHE - École pratique des hautes études - PSL - Université Paris sciences et lettres - UM - Université de Montpellier - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - CNRS - Centre National de la Recherche Scientifique - Institut de recherche pour le développement [IRD] : UR226); Astrid Hopfensitz (GATE Lyon Saint-Étienne - Groupe d'analyse et de théorie économique - CNRS - Centre National de la Recherche Scientifique - Université de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - UL2 - Université Lumière - Lyon 2 - ENS Lyon - École normale supérieure - Lyon); Camille Ferdenzi (CRNL - Centre de recherche en neurosciences de Lyon - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - Université de Lyon - INSERM - Institut National de la Santé et de la Recherche Médicale - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Several physical features influence the perception of how cooperative a potential partner is. While previous work focused on face and voice, it remains unknown whether body odours influence judgements of cooperativeness and if odour-based judgements are accurate. Here, we first collected axillary odours of cooperative and uncooperative male donors through a public good game and used them as olfactory stimuli in a series of tasks examining whether and how they influence cooperative decision-making in an incentivized economic game and ratings of cooperativeness. Our results show that having access to the donor's body odours provided a strategic advantage to women during economic decisions (but not to men): with age, women were more likely to cooperate with cooperative men and to avoid interacting with uncooperative men. Ratings of cooperativeness were nonetheless unrelated to the donors' actual cooperativeness. Finally, while men with masculine and intense body odours were judged less cooperative, we found no evidence that donors' actual cooperativeness was associated with less masculine or less intense body odour. Overall, our findings suggest that, as faces and voices, body odours influence perceived cooperativeness and might be used accurately and in a non-aware manner as olfactory cues of cooperativeness, at least by women.. |
| Date: | 2021–12–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03477414&r= |