, subject to the Cambridge Core terms of use, available at 28 Sep 2021 at 20:26:04 , on 170.106.35.76 . IP address: https://doi.org/10.1017/S1744137409001258 . Journal of of Journal Institutional Economics vol 5 • no 2 • AUGUST 5 • no 2 vol 2009 https://www.cambridge.org/core Downloaded from https://www.cambridge.org/core/terms Journal of Institutional Economics vol 5 • no 2 • AUGUST 2009 ISSN 1744-1374 ISSN Thráinn Eggertsson Caballero Chris Kingston and Gonzalo Kim Sukkoo countries developing Younas Javed Coase conjecture Deng Feng Fragment L. Khalil Elias Contents vol 5 • no 2 • AUGUST 5 • no 2 vol 2009 Journal of of Journal Institutional Economics 151 Comparing theories of institutional change 181Virginia and of Massachusetts a study development: and US regional Institutions 207 from institutional quality affect capital mobility? Evidence Does 225 of the urban institutions and intertemporal Comparative externality: a revisit 251 Rules’ on ‘General and self-serving Smith Self-deceit bias: Adam 137 and the theory Knowledge of institutional change Cambridge Journals Online Cambridge Journals further information about this journal For please go to the journal website at: journals.cambridge.org/joi 17441374_5-2.qxd 6/25/09 4:00 PM Page 1 Page PM 4:00 6/25/09 17441374_5-2.qxd 17441374_5-2.qxd 6/25/09 4:00 PM Page 2

Journal of Institutional Economics Journal of Institutional Economics

editors statement of aims submission of articles subscriptions copying issn Institutions are the stuff of social and institutions and organizations. The Journal of Institutional Economics ( Geoffrey M. Hodgson (Editor-in-Chief) Submission should be made electronically to This journal is registered with the Copyright economic life. The importance of The Journal of Institutional Economics is an 1744-1374) is published three times a year, The Business School the Editor-in-Chief, Geoffrey Hodgson, via Clearance Center, 222 Rosewood Drive, understanding the role of institutions in interdisciplinary journal that will be of interest April, August and December. Three issues University of Hertfordshire [email protected]. The submission Danvers, ma 01923, usa. Organizations in the economic growth is now widely appreciated. to all academics working in the social sciences, form a volume. usa c.c.c Hatfield The Journal of Institutional Economics is including in economics, business studies, should be deemed complete only when the The 2009 subscription price (excluding who are also registered with the . al10 9ab Hertfordshire devoted to the study of the nature, role and sociology, politics, geography, anthropology receipt and downloading of the paper is vat) of a volume, which includes print and may, therefore copy material (beyond the uk 107 108 us evolution of institutions in the economy, and philosophy. The Journal of Institutional acknowledged. electronic access, is £162.00 (us $295.00 in limits permitted by, sections and of [email protected] including firms, states, markets, money, Economics aims to provide all authors with an Submissions should be accompanied, in usa, Canada and Mexico); £29.00 (us $49.00) Copyright law) subject to payment to the 50 c.c.c 12.00 households and other vital institutions and expert verdict on their articles within days the email text or a separate file, with the for individuals, which includes print only, of the per copy fee of $ . This Benito Arruñada organizations. It welcomes contributions by all of submission. following details: the name(s) of the author(s); ordering direct from the publishers and consent does not extend to multiple copying Submission should be made electronically Pompeu Fabra University, schools of thought that can contribute to our the email address of the corresponding author; certifying that the journal is for their personal for promotional or commercial purposes. understanding of the features, development to the Editor-in-Chief, Geoffrey Hodgson, via 0307-8833/07 Barcelona, Spain and the institutional affiliation(s) of the use. The electronic-only price available to Code . ISI Tear Sheet Service, and functions of real world economic [email protected]. 3501 pa 19104 [email protected] author(s). institutional subscribers is £140.00 Market Street, Philadelphia, , usa Submission of a paper will be held to (us $280.00 in usa, Canada and Mexico). , is authorized to supply single copies of Elias L. Khalil imply that it contains original unpublished Single parts are £58.00 net (us $105.00 in usa, separate articles for private use only. Department of Economics international advisory board work and is not being submitted for Canada and Mexico) plus postage. EU sub- Organizations authorized by the Copyright Monash University publication elsewhere. scribers (outside the uk) who are not regis- Licensing Agency may also copy, material Howard Aldrich Janos Kornai Australia All papers will be preliminarily assessed by tered for vat should add vat at their country’s subject to the usual conditions. For all other University of North Carolina at Chapel Hill Collegium Budapest joie [email protected] the Editors. A paper will be rejected at rate. vat registered members should provide use, permission should be sought from Ash Amin Tony Lawson this stage if it does not comply with the above their vat registration number. Japanese prices Cambridge or from the American Branch of University of Durham University of Cambridge Richard N. Langlois guidelines, is evidently of insufficient academic for institutions (including asp delivery) are Cambridge University Press. Department of Economics Masahiko Aoki Brian Loasby quality or interest, or does not lie within the available from Kinokuniya Company Ltd, p.o. The Journal of Institutional Economics and University of Connecticut Stanford University University of Stirling scope of the journal. If a paper passes this Box 55, Chitose, Tokyo 156, Japan. all other Cambridge journals can be accessed usa Margaret Archer Uskali Mäki assessment, then it will be sent out to referees. Orders, which must be accompanied by via http://www.cup.cam.ac.uk and in North [email protected] University of Warwick Erasmus University of Rotterdam The Editors will make the final decision, payment, may be sent to a bookseller, America via http://www.cup.org. taking account of the referee’s reports. W. Brian Arthur J. Stanley Metcalfe subscription agent or direct to the publisher: 2009 Esther-Mirjam Sent All articles must be in English. They may © Cambridge University Press Sante Fe Institute University of Manchester Cambridge University Press, The Edinburgh Radboud University Nijmegen be submitted in electronic format only. Building, Shaftesbury Road, Cambridge issn 1744-1374 Mark Blaug Luigi Marengo The Netherlands MSWord, Wordperfect and pdf files are cb2 8ru; or in the usa, Canada and Mexico: University of Amsterdam University of Teramo Printed in the United Kingdom by the [email protected] acceptable. There must be no indication of the Cambridge University Press, Journals Claude Ménard University Press, Cambridge Paul Dale Bush personal identity or institution of any author Fulfillment Department, 100 Brook Hill California State University at Fresno Université de Paris 1 of the article within the article itself. Drive, West Nyack, New York 10994–2133. This journal issue has been printed on Philip Mirowski Normally, articles (including footnotes and John Cantwell Periodicals postage paid at New York, ny and FSC-certified paper and cover board. FSC is an University of Notre Dame references) must be no longer than 9,000 Rutgers University at additional offices. independent, non-governmental, not-for-profit words. In special cases, such as an extended Victoria Chick Douglass North organization established to promote the review or survey article, this limit may be University College London Washington University at St Louis responsible management of the world’s forests. extended to 12,000 words. A declaration of the Antonio Damasio Elinor Ostrom Please see www.fsc.org for information. total word count (including footnotes and University of Iowa Indiana University references) must accompany or be within the Marcello de Cecco Malcolm Rutherford article. Scuola Normale Superiore, Pisa University of Victoria The front page of the electronic file of the Paul DiMaggio Warren Samuels article should include the following Princeton University Michigan State University information: the title; an abstract of the article 150 Ronald Dore Thomas Schelling of up to words; the Journal of Economic London School of Economics University of Maryland Literature classification codes for the article; and up to six key words or short phrases. Giovanni Dosi Ekkehart Schlicht Sant’Anna School of Advanced Studies, Pisa University of Munich Footnotes should be kept to a minimum and the Harvard referencing system should be John R. Searle Sheila Dow used. University of Stirling University of California at Berkeley Papers with some formal content will be Massimo Egidi Luc Soete considered if it is fully explained for a general University of Trento University of Maastricht readership, the mathematics is consigned as Nicolai Foss Robert Sugden much as possible to appendices, the Copenhagen Business School University of East Anglia assumptions have sufficient grounding in

JOI: Journal of Institutional Economics 4.1 CVR INNERS BLACK John Foster Marc Tool reality, and the paper enhances our University of Queensland State University of California at Sacramento understanding of past, present, or feasible socio-economic institutions. joie is not Mark Granovetter Viktor Vanberg Stanford University University of Freiburg interested in the advancement of formal or econometric techniques for their own sake. Herbert Gintis Richard Whitley University of Massachusetts at Amherst University of Manchester Avner Greif H. Peyton Young Stanford University Johns Hopkins University Bruce Kogut INSEAD Downloaded from https://www.cambridge.org/core. IP address: 170.106.35.76, on 28 Sep 2021 at 20:26:04, subject to the Cambridge Core terms of use, available at https://www.cambridge.org/core/terms. https://doi.org/10.1017/S1744137409001258 Journal of Institutional Economics

August 2009

CONTENTS

137–150 Knowledge and the theory of institutional change T HRAINN´ E GGERTSSON

151–180 Comparing theories of institutional change C HRIS K INGSTON AND G ONZALO C ABALLERO

181–205 Institutions and US regional development: a study of Massachusetts and Virginia S UKKOO K IM

207–223 Does institutional quality affect capital mobility? Evidence from developing countries J AVED Y OUNAS

225–250 Comparative urban institutions and intertemporal externality: a revisit of the Coase conjecture F ENG D ENG

Fragment 251–258 Self-deceit and self-serving bias: Adam Smith on ‘General Rules’ E LIAS L. KHALIL

Downloaded from https://www.cambridge.org/core. IP address: 170.106.35.76, on 28 Sep 2021 at 20:26:04, subject to the Cambridge Core terms of use, available at https://www.cambridge.org/core/terms. https://doi.org/10.1017/S1744137409001258