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and efficiency across society as a whole. Agency-cost theory recognizes that incentive conflicts and coordination problems … one sector of society at the expense of another. Each rationale sets different goals and assigns responsibiliy for …
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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 … moral evaluation of actions in our society. The rise of Artificial Intelligence (AI) forces humanity to confront new areas …
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This article calls for a greater integration of moral psychology and political economy. While these disciplines were …
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We present an infinite-horizon model of moral standards where self-esteem and unconscious drives play key roles. In the model, an individual receives random temptations (such as bribe offers) and must decide which to resist. Individual actions depend both on conscious intent and a type...
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