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The Economics of Cultural Transmission and Socialization
Bisin, Alberto - 2010
Cultural transmission arguably plays an important role in the determination of many fundamental preference traits (e.g., discounting, risk aversion and altruism) and most cultural traits, social norms, and ideological tenets ( e.g., attitudes towards family and fertility practices, and attitudes...
Persistent link: https://www.econbiz.de/10013136354
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Ethical Foundations of Financial Regulation
Kane, Edward J. - 2008
Regulation consists of rulemaking and enforcement. Economic theory offers two complementary rationales for regulating … and efficiency across society as a whole. Agency-cost theory recognizes that incentive conflicts and coordination problems …
Persistent link: https://www.econbiz.de/10012774887
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Kinship, Cooperation, and the Evolution of Moral Systems
Enke, Benjamin - 2017
Across the social sciences, a key question is how societies manage to enforce cooperative behavior in social dilemmas such as public goods provision or bilateral trade. According to an influential body of theories in psychology, anthropology, and evolutionary biology, the answer is that humans...
Persistent link: https://www.econbiz.de/10012954472
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Economic Development and the Regulation of Morally Contentious Activities
Elias, Julio - 2017
The regulation of many activities depends on whether societies consider them morally controversial or “repugnant”. Not only have regulation and related ethical concerns changed over time, but there is also heterogeneity across countries at a given time. We provide evidence of this...
Persistent link: https://www.econbiz.de/10012960514
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Moral Rules and the Moral Sentiments : Toward a Theory of an Optimal Moral System
Kaplow, Louis; Shavell, Steven - 2021
We examine how moral sanctions and rewards, notably the moral sentiments involving feelings of guilt and virtue, would be employed to govern individuals' behavior if the objective were to maximize social welfare. In our model, we analyze how the optimal use of guilt and virtue is influenced by...
Persistent link: https://www.econbiz.de/10013236682
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The Moral Preferences of Investors : Experimental Evidence
Bonnefon, Jean-Francois; Landier, Augustin; Sastry, … - 2023
We characterize investors’ moral preferences in a parsimonious experimental setting, where we auction stocks with various ethical features. We find strong evidence that investors seek to align their investments with their social values (“value alignment”), and find no evidence of behavior...
Persistent link: https://www.econbiz.de/10014347086
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A Soul's View of the Optimal Population Problem
de la Croix, David; Doepke, Matthias - 2023
A long-standing challenge for welfare economics is to develop welfare criteria that can be applied to allocations with different population levels. Such a criterion is essential to resolve the optimal population problem, i.e., the tradeoff between population size and the welfare of each person...
Persistent link: https://www.econbiz.de/10014263967
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Economic Analysis of Welfare Economics, Morality and the Law
Shavell, Steven - 2022
This paper contains the chapters on welfare economics, morality, and the law from a general, forthcoming book …, Foundations of Economic Analysis of Law (Harvard University Press, 2003). I begin in chapter 26 with a discussion of the normative …, which play an important, if dominant, role in much normative discourse about law, and I discuss the connections between …
Persistent link: https://www.econbiz.de/10014084957
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On Optimal Legal Change, Past Behavior, and Grandfathering
Shavell, Steven - 2010
-based justification for the stability of the law, the literature on legal transitions, and economic writing on optimal legal standards …
Persistent link: https://www.econbiz.de/10012759741
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Misallocation, Economic Growth, and Input-Output Economics
Jones, Charles I. - 2011
One of the most important developments in the growth literature of the last decade is the enhanced appreciation of the role that the misallocation of resources plays in helping us understand income differences across countries. Misallocation at the micro level typically reduces total factor...
Persistent link: https://www.econbiz.de/10013130964