Greenspan's book does not quite reach either, in trying to reach two audiences. Economists can learn a lot from it, but they will recognize that many of the arguments would have trouble passing scrutiny in peer-reviewed journals. Many other readers will buy the book, but few will finish it. It's...

We study the regulation of a morally responsible agent in the context of a negative consumption externality and motivation crowding. In particular, we analyze how various governmental interventions affect the agent's motivation to assume moral responsibility. Employing a motivation-crowding...