Based on OECD evidence, equity/housing-price busts and credit crunches are followed by substantial increases in public consumption. These increases in unproductive public spending lead to increases in distortionary marginal taxes, a policy in sharp contrast with presumably optimal Keynesian...

Prospective economic developments depend on the behavior of consumer spending. A key question is whether private expenditures recover once social distancing restrictions are lifted or whether the COVID-19 crisis had a sustained impact on consumer confidence, preferences, and hence, spending. The...

We embed an experiment in a large-scale representative survey to investigate how relative wealth affects risk-taking and how this effect varies as a function of perceived control over life outcomes. Our results contest the common prediction of higher risk-taking in the middle of the...

The field of Corporate Social Responsibility is described and the theory on it is critically reviewed. It is argued that present theory is insufficient in explaining the phenomenon of CSR and might fail to recognize some of its deeper significance. A new basis for the theoretical analysis of CSR...

2016 jährte sich das Erscheinen des Artikels von John Maurice Clark mit dem in der Überschrift genannten Titel im Journal of Political Economy zum hundertsten Mal. Clark legt in diesem Artikel seine Vorstellungen zur Entwicklung einer "economics of responsibility" und zur Wahrnehmung von...

We survey the literature on the economic consequences of the structure of social networks. We develop a taxonomy of "macro" and "micro" characteristics of social interaction networks and discuss both the theoretical and empirical findings concerning the role of those characteristics in...

We conduct an online donation dictator game experiment with over 1,300 participants, representative of the Japanese population, to investigate the relationship between the incentive scheme and prosocial behavior by systematically varying the stake size and probability of being paid, including...

Subjective evaluations in many contexts might be affected by decision-makers' social preferences. To explore this phenomenon, we use data from soccer referees' decisions. According to soccer rules, referees are expected to evaluate each episode independently, without taking into account previous...

This study explores mechanism design with allocation-based social preferences. Agents' social preferences and private payoffs are all subject to asymmetric information. We assume quasi-linear utility and independent types. We show how the asymmetry of information about agents' social preferences...

We conduct an interdisciplinary meta-analysis to aggregate the knowledge from empirical estimates of inequality aversion reported from 1999 to 2022. In particular, we examine 85 estimates of disadvantageous inequality aversion (or envy) and advantageous inequality aversion (or guilt) from 26...