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Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating financial institutions. Altruistic public-benefits theories treat rules as governmental instruments for increas- ing fairness and efficiency across society as a whole....
Persistent link: https://www.econbiz.de/10012472798
Economics and ethics both offer important perspectives on our society, but they do so from two different viewpoints … - the central focus of economics is how the price system in our economy values resources; the central focus of ethics is the …
Persistent link: https://www.econbiz.de/10012480076
shifted again - social scientists of different backgrounds recognized that morality and politico-economic outcomes influence … recent economics research on prominent ideas in moral psychology. First, the theory that morality is ultimately economically … exchange. Second, that the structure of morality shapes political views and polarization, including on economic issues such as …
Persistent link: https://www.econbiz.de/10014512133
Despite the importance placed on supervision in the workplace, little is known about the effects of a boss' leadership … region, high SAT, and undergraduate institution as their bosses who also have strong leadership qualities retain at the …
Persistent link: https://www.econbiz.de/10012456294
This essay shows that government credit-allocation schemes generate incentive conflicts that undermine the quality of bank supervision and eventually produce banking crisis. For political reasons, most countries establish a regulatory culture that embraces three economically contradictory...
Persistent link: https://www.econbiz.de/10012464752
We compare the trading performance of independent directors and other officers of the firm. We find that independent directors earn positive and substantial abnormal returns when they purchase their company stock, and that the difference with the same firm's officers is relatively small at most...
Persistent link: https://www.econbiz.de/10012465896
for hiding adverse information. It is ironic that what are called accounting ethics' fail to embrace the profession …
Persistent link: https://www.econbiz.de/10012469064
conducted an online choice experiment to characterize preferences for the morality and efficiency of payments to kidney donors …
Persistent link: https://www.econbiz.de/10012456048
Calculating the welfare implications of changes to economic policy or shocks requires economists to decide on a normative criterion. One approach is to elicit the relevant moral criteria from real-world policy choices, converting a normative decision into a positive inference, as in the recent...
Persistent link: https://www.econbiz.de/10012456745
The United States is among the most individualistic societies in the world. However, unlike Western European individualism, which is imbued with moral universalism, America's "rugged individualism" is instead particularistic. We link this distinctive cultural configuration to the country's...
Persistent link: https://www.econbiz.de/10014544712