CORDIS Project
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The EMBED project investigates how social relationships influence market transactions and their broader economic implications. It aims to develop theories and conduct experiments to understand the role of relationships in market behavior and the resilience of social capital during economic shocks.
EMBED takes a microeconomic approach to investigating the macroeconomic implications of market transactions being embedded in social relationships.
Sociologists and economists have documented the importance of relationships for mediating trade in a wide range of market settings. EMBED seeks to investigate the implications of this for the economy as a whole.
Ethnographic work suggests that relationships foster common understandings which limit opportunistic behaviour.
Subproject 1 will develop a…
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