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Applications of Social Capital Theory

Published online by Cambridge University Press:  28 April 2015

A. Allan Schmid  and
Lindon J. Robison
A. Allan Schmid
Affiliation:
Department of Agricultural Economics, Michigan State University
Lindon J. Robison
Affiliation:
Department of Agricultural Economics, Michigan State University
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Abstract

Experiments and studies were conducted to investigate the role of social capital. Social capital (relationship to others) is a productive asset which is a substitute for and complement to other productive assets. The productivity of social capital leads to the expectation that firms and individuals invest in relationships. Data were collected to answer the following questions: Does the identity (relationship) of trading partners affect selling and buying prices; the acceptance of catastrophic risk; the choice of share or cash leases in agriculture; loan approval; and banks investment to retain customers? The evidence is in the afffirmative.

Keywords

behavioral economicsinstitutional economicssocial capital
Type
Invited Papers and Discussions
Information
Journal of Agricultural and Applied Economics , Volume 27 , Issue 1 , July 1995 , pp. 59 - 66
Copyright
Copyright © Southern Agricultural Economics Association 1995

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