Dec 13, 2011

Interesting articles in the new "American Economic Review"

The I found these articles interesting in the new number of the AER:
The introduction to this paper claimed that (1) a price for buffalo products that was largely invariant to changes in supply; (2) open access conditions with no regulation of the buffalo kill; and (3), a newly invented tanning process that made buffalo hides into valuable commercial leather were jointly necessary and sufficient for the slaughter on the Great Plains. The theoretical results demonstrate that the combination of a tanning innovation, open access to buffalo herds, and fixed world prices delivers a punctuated slaughter matching that witnessed on the Great Plains. I take this as proof of sufficiency.
We investigate the historical origins of mistrust within Africa. Combining contemporary household survey data with historic data on slave shipments by ethnic group, we show that individuals whose ancestors were heavily threatened by the slave trade today ex- hibit less trust in neighbors, family co-ethnics, and their local government. 
This article finds evidence that supports for Herbert Simon's searching theory
This is the table of contents of the new issue of the AER

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