21 min listen
Faith and Loyalty through the TC Lens
Faith and Loyalty through the TC Lens
ratings:
Length:
21 minutes
Released:
Jul 18, 2023
Format:
Podcast episode
Description
Transaction costs can help institutions build loyalty and commitment among their members. Starting with the biblical story of Abraham, we delve into the delicate balance of setting transaction costs to neither alienate nor diminish values. Then: loyalty filters. The civil service of imperial China. Email spam. "The Word of Wisdom", a LDS dietary and lifestyle principle. But....there are cola vending machines at Brigham Young University, a seeming detour from the teachings of the Word of Wisdom. Links:Genesis 22 TextWord of Wisdom Text from D&CCaffeinated drinks at "The Y."Why is SPAM so badly written? Calligraphy in the Chinese Civil ServiceGeorge Akerlof. (1983). Loyalty Filters. The American Economic Review, 73(1), 54–63. David Kreps (1990). Corporate Culture and Economic Theory ("culture" as a signalling device)If you have questions or comments, or want to suggest a future topic, email the show at taitc.email@gmail.com ! You can follow Mike Munger on Twitter at @mungowitz
Released:
Jul 18, 2023
Format:
Podcast episode
Titles in the series (25)
Middlemen: From Mancgere to Amazon by The Answer Is Transaction Costs