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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 … financial institutions. Altruistic public-benefits theories treat rules as governmental instruments for increas- ing fairness … 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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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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Integrating Ethical Values and Economic Value to Steer Progress in Artificial Intelligence
Korinek, Anton - 2019
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/10012865277
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Capital Gains Taxation in an Economy with an "Austrian Sector"
Kovenock, Dan; Rothschild, Michael - 2021
This paper examines the effects of a proportional capital gains tax in an economy with an Austrian sector (with wine and trees) and an ordinary sector. We analyze the effect of capital gains taxation (on both an accrual and a realization basis) on the efficiency with which resources are used...
Persistent link: https://www.econbiz.de/10013249716
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The Austrian Theory of the Marginal Use and of Ordinal Marginal Utility
Mcculloch, J. Huston - 2021
The Austrian theory of the "marginal use" is restated and extended. It is found that the Austrian concept of marginal …
Persistent link: https://www.econbiz.de/10013310605
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Continuing Dangers of Disinformation in Corporate Accounting Reports
Kane, Edward J. - 2009
performance. In principle, outside auditing firms and other watchdog institutions help outside investors to identify and ignore … for hiding adverse information. It is ironic that what are called accounting ethics' fail to embrace the profession …
Persistent link: https://www.econbiz.de/10012767752
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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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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