Trading with the Dead

Late medieval Englishmen provided for their wellbeing in the hereafter by purchasing intercession for their souls. They traded valuable landed endowments for the promise of posthumous Masses and prayers whose daily observance contractual counterparties agreed to underwrite for decades, centuries, even eternally. Intercessory foundations so contracted were called chantries. Chantry contracts constituted trades with the dead in the sense that the promisees were deceased when the promisors were supposed to perform. I study the special problems that chantry contract promisees faced in enforcing their rights from the grave and analyze the devices they used for that purpose. Chantry founders wary of their fates in the afterlife showed equal concern for the challenges their contracts would encounter in this life long after they were gone. Founders met those challenges by leveraging the economics of incentives to develop a strategy of chantry contract self-enforcement: profit the living, present and future, for monitoring the contractual performance of promisors and promisors’ agents, and for punishing them should they breach. Chantry founders’ strategy was successful, enabling trade with the dead.

Double-authentication-preventing signatures in the standard model

A double-authentication preventing signature (DAPS) scheme is a digital signature scheme equipped with a self-enforcement mechanism. Messages consist of an address and a payload component, and a signer is penalized if she signs two messages with the same addresses but different payloads. The penalty is the disclosure of the signer’s signing key. Most of the existing DAPS schemes are proved secure in the random oracle model (ROM), while the efficient ones in the standard model only support address spaces of polynomial size. We present DAPS schemes that are efficient, secure in the standard model under standard assumptions and support large address spaces. Our main construction builds on vector commitments (VC) and double-trapdoor chameleon hash functions (DCH). We also provide a DAPS realization from Groth–Sahai (GS) proofs that builds on a generic construction by Derler et al., which they instantiate in the ROM. The GS-based construction, while less efficient than our main one, shows that a general yet efficient instantiation of DAPS in the standard model is possible. An interesting feature of our main construction is that it can be easily modified to guarantee security even in the most challenging setting where no trusted setup is provided. To the best of our knowledge, ours seems to be the first construction achieving this in the standard model.

The changing self: The impact of dementia on the personal and social identity of women (findings from the Improving the Experience of Dementia and Enhancing Active Life programme)

This paper explores the impact of dementia on the selfhood of women, specifically the ways in which changes occur as a result of such a diagnosis. Interviews were conducted with 12 women (recruited from the Improving the Experience of Dementia and Enhancing Active Life programme dataset), and analysed using interpretative phenomenological analysis. Emergent themes concerned the process of receiving and adjusting to a dementia diagnosis, the emotional and psychological impact of dementia, self-presentation and stigma and the self-enforcement of new boundaries. The analysis showed that dementia had a wide-ranging impact on the selfhood and identity of women, with newfound characteristics associated with the disease leading to a loss of self-esteem, sadness and anger. The women subsequently engaged in the modification of their behaviour, as a means of coming to terms with the losses experienced.

Including Disability in Business and Human Rights Discourse and Corporate Practice

Despite significant progress in business and human rights (BHR) discourse and the practices of multinational corporations (MNCs), persons with disabilities and disability rights are absent from both the key instruments and practice of BHR. This lacuna exists despite the near-universal ratification of the United Nations (UN) Convention on the Rights of Persons with Disabilities, as well as the fact that disabled persons constitute over 15 per cent of the global population and MNC operations impact them greatly and disproportionately. We argue that MNCs have a central role, responsibility and opportunity to foment change globally in fulfilling the human rights of persons with disabilities through their employment practices and by leveraging their economic power to fulfil other aspects of disability-based human rights. Doing so requires the development and self-enforcement of disability-specific human rights due diligence (HRDD) processes, and creating a general culture of diversity, equity and inclusion that encompasses disability.

Theoretical Foundations of Relational Incentive Contracts

This article describes the emerging game-theoretic framework for modeling long-term contractual relationships with moral hazard. The framework combines self-enforcement and external enforcement, accommodating alternative assumptions regarding how actively the parties initially set and renegotiate the terms of their contract. A progression of theoretical components is reviewed, building from the recursive formulation of equilibrium continuation values in repeated games. A principal-agent setting serves as a running example. Expected final online publication date for the Annual Review of Economics, Volume 13 is August 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

Leaders and machiavellian manifestations: workers' innovation development and business performance

This research aims to assess the level of manipulation of leaders and Machiavellian manifestations in the work process within selected socio-demographic characteristics of employees. Based on the described theoretical basis, three hypotheses were established. The hypotheses concern is examining the differences between manipulation and Machiavellian manifestations regarding employees' residence (urban or rural), the sphere of the organization (private or public) in which they work, and the age of employees. The data were obtained through a questionnaire survey in which 123 respondents participated. The study involved methodological tools such as CASADI (Calculativness, Self-Assertion, Diplomacy) and MPS (Machiavellian Personality Scale). The new CASADI methodology identifies Machiavellian manifestations in business and managerial behavior. It contains statements that relate to the respondent's opinion on manipulation between people. The MPS methodology was created for leaders in determining the level of their manipulation through four factors determining Machiavellianism. The survey results were evaluated through a t-test and Pearson's correlation coefficient. The findings confirmed the differences in Self-Assertion, Desire for Control, and Distrust regarding respondents' residence. The study of age differences recorded the statistical significance for the attribute of Diplomacy within Machiavellian manifestations and the attribute of Desire for social status within the manipulation of leaders. Within the differences between the private and public spheres, statistical significance was recorded for the attributes of Machiavellian manifestations of Computation and Self-Enforcement, and for the attributes of the manipulation of leaders Amorality, Desire for Control and Distrust of others. The research results indicated that employees living in the city might have a higher degree of Machiavellianism. It is reflected in their motivation for for-profit and the need to control others and not trust them. Research suggested that the rate of Machiavellianism decreases with age. In the case of the organization activity where the employee works, it was found that Machiavellian tendencies were more pronounced in employees of the private sphere.

When Ostrom Meets Blockchain: Exploring the Potentials of Blockchain for Commons Governance

Blockchain technologies have generated enthusiasm, yet their potential to enable new forms of governance remains largely unexplored. Two confronting standpoints dominate the emergent debate around blockchain-based governance: discourses characterized by the presence of techno-determinist and market-driven values, which tend to ignore the complexity of social organization; and critical accounts of such discourses which, while contributing to identifying limitations, consider the role of traditional centralized institutions as inherently necessary to enable democratic forms of governance. In this article, we draw on Ostrom’s principles for self-governance of communities to explore the transformative potential of blockchain beyond such standpoints. We approach blockchain through the identification and conceptualization of six affordances that this technology may provide to communities: tokenization, self-enforcement and formalization of rules, autonomous automatization, decentralization of power over the infrastructure, increasing transparency, and codification of trust. For each affordance, we carry out a detailed analysis situating each in the context of Ostrom’s principles, considering both the potentials of algorithmic governance and the importance of incorporating communities’ social practices into blockchain-based tools to foster forms of self-governance. The relationships found between these affordances and Ostrom’s principles allow us to provide a perspective focused on blockchain-based commons governance.

Property, redistribution, and the status quo: a laboratory study

We report experimental evidence showing a positive effect of redistribution on economic efficiency via the self-enforcement of property rights, and identify which status groups benefit more and which less. We model an economy in which wealth is produced if players voluntarily comply with the—efficient but inequitable—prevailing social order. We vary exogenously whether redistribution is feasible, and how it is organized. We find that redistribution benefits all status groups as property disputes recede. It is most effective when transfers are not discretionary but instead imposed by some exogenous administration. In the absence of coercive means to enforce property rights, it is the higher status groups, not the lower status groups, who benefit from redistribution being compulsory rather than voluntary.

The Role of Withholding in the Self-Enforcement of a Value-Added Tax: Evidence from Pakistan

I leverage the staggered roll out of VAT in Pakistan to document the role of withholding mechanism in the self-enforcement of a VAT. Focusing on firms already in the tax net, I see how their outcomes respond when the tax is extended upward to intermediates used by them. I find that the upward extension of VAT, which triggers the withholding mechanism, causes an immediate and large (more than 40 log-points) surge in sales reported by firms. The evolution of bunching above the zero-liability point and of input costs reported by firms suggest that this large response is indeed driven by the withholding mechanism. I also explore the role of withholding in the extensive margin compliance choices of firms.