Embedded Culture as a Source of Comparative Advantage

Luigi Guiso, Paola Sapienza and Luigi Zingales

No 19798, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: This paper examines how the concept of embedded culture played a transformative role in the ongoing cultural revolution within economics and business. We trace the field's shift from the 20th-century concept of homo economicus universalis to an approach incorporating cultural embeddedness in economic behavior. Beyond documenting this intellectual transformation, we identify fertile areas for future research and explore how an embedded cultural perspective can enhance both our understanding of economic phenomena and the design of effective policies.

JEL-codes: D21 M14 Z1 Z13 (search for similar items in EconPapers)
Date: 2024-12
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