Commemorative stamps as a recognition tool: a cross-sectional analysis

Patricia Galliford (), Ho Fai Chan and Benno Torgler
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Patricia Galliford: Centre for Behavioural Economics, Society and Technology
Ho Fai Chan: Centre for Behavioural Economics, Society and Technology
Benno Torgler: Centre for Behavioural Economics, Society and Technology

International Review of Economics, 2024, vol. 71, issue 2, No 15, 449-471

Abstract: Abstract Commemorative stamps have a place in the cultural, economic, and geopolitical status of a nation; and what is printed on stamps often reflects a country’s culture, regime, and values. Whilst stamps can celebrate monuments, flora and fauna, and points in a nation’s history; they are also a source of recognition, celebrating the contribution of key figures and their performance in areas deemed significant to a nation. In this empirical study, we analyse commemorative stamp data in a cross-sectional setting to understand key determinants that shape their provision. The award literature has developed propositions that have not yet been tested empirically. We find evidence that the political process and regime influences the use of postage stamps as a recognition tool and a country’s governance, matters. For example, controlling for regime, more corrupt countries are more likely to use stamps to recognize personalities. However, the researchers note that democratic regimes frequently use stamps as a recognition tool. We find that cultural factors and ideologies show substantial heterogeneity in their influence, while factors such as fractionalization or income inequality do not seem to matter. Factors such as personal and impersonal pro-sociality or creativity reduces the utilization of stamps as a recognition tool, while other factors such as market orientation, individualism, or traditionalism encourage the use of stamps to recognize individuals. Overall, we find that some results are consistent with the theoretical propositions while others are not, requiring more empirical evidence and a better understanding of how stamps differ from other recognitions.

Keywords: Commemorative stamps; Awards; Recognition; Political regimes; Cultural values; Pro-sociality; Z1; D7; Z13 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s12232-024-00451-0

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