This papers discusses the relationship of the model of man presented by Adam Smith in The Theory of Moral Sentiments (1759) and the assumptions about human behavior which are quintessential for his An Inquiry into the Nature and Causes of the Wealth of Nations (1776/77). It is argued that...

This paper interprets the "buying craze" among American tycoons between 1870 and the Second World War concerning mainly Renaissance art, particularly paintings, thereby concentrating on the process of this transfer rather than on the art works and the resulting collections. It analyzes the role...

Framing effects and bounded rationality imply that election campaigns may be an important determinant of election outcomes. This paper uses a two-party setting and simple game theoretic models to analyse the strategic interaction between the parties' campaign decisions. Alternations of power...

It is shown that in an economy with non-marginal set-up costs on the capital side, which imply a minimum requirement of capital, production may be carried out by capitalist firms only, irrespective of the fact that workers can exchange work for capital so that labour-managed production seems...

The message of this paper is that value of a coalition is power. This coincides with the view that coalitions do not have preferences, but merely represent the preferences of their members. Implications are discussed with the respect to (a) the hypothesis that power indices cannot explain...