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Homo oeconomicus as the homo moralis' party pooper : heterogenous morality in public good games

Eichner, Thomas; Runkel, Marco - 2024

The main insight of this paper is that moral behavior does not necessarily alleviate coordination problems or may even … worsen them, if individuals possess different degrees of morality. We characterize heterogenous Alger-Weibull morality … for individuals with below (above) average morality. Equilibrium public good provision is not increased by morality, as …

Persistent link: https://www.econbiz.de/10014632345

Formal Theoretical Evidence that Rationality Consists in 'Moral Actions' and Morality Has, Explicitly Parameterization as, Altruism

Obrimah, Oghenovo A. - 2023

study arrives at a formal theoretical general equilibrium parameterization of morality. Suppose all socioeconomic agents are … boundedly rational and seek to act rationally. Under the stated condition, rationality consists in `moral actions' and Morality … has, explicitly parameterization as, Altruism. If there exist behavioral frictions within a society, only those frictions …

Persistent link: https://www.econbiz.de/10014260249

The ethical economy and competitive markets : reconciling altruistic, moralistic, and ethical behavior with the rational economic agent and competitive markets

Altman, Morris - In: Journal of economic psychology : research in economic … 26 (2005) 5, pp. 732-757

Persistent link: https://www.econbiz.de/10003105864

Thoughtful economic man : essays on rationality, moral rules and benevolence

Meeks, J. Gay Tulip (contributor); Meeks, J. Gay Tulip (ed.) - 1991

Persistent link: https://www.econbiz.de/10013493758

Under risk, over time, regarding other people : language and rationality within three dimensions

Jullien, Dorian - 2018

This paper conducts a systematic comparison of behavioral economics’s challenges to the standard accounts of economic behaviors within three dimensions: under risk, over time and regarding other people. A new perspective on two underlying methodological issues, i.e., interdisciplinarity and...

Persistent link: https://www.econbiz.de/10011809698

Rationality – What? Misconceptions of Neoclassical and Behavioral Economics

Rizzo, Mario J. - 2017

Both behavioral and neoclassical economists maintain a concept of strict rationality that is exceptionally narrow. Neoclassicists use it as a tool both to explain what agents actually do and as a prescriptive framework. Behavioralists do not believe it adequately explains actual behavior but...

Persistent link: https://www.econbiz.de/10012961724

Consumer Choice Rule While Examing Similar Consumption Bundles : Rational Choice to Behavioural Bias

Vikramaditya, Vibhu - 2021

The study tries to recognize the behaviour of the consumer with respect to the opportunity cost and marginal benefit associated with the commodity. The research tries to evaluate the factors and identify behavioural traits of consumers if they exist in decision making. The study also tries to...

Persistent link: https://www.econbiz.de/10013237102

Consumer Choice Rule While Examining Similar Consumption Bundles : Rational Choice to Behavioral Bias

Vikramaditya, Vibhu - 2021

The study tries to recognize the behavior of the consumer with respect to the opportunity cost and marginal benefit associated with the commodity. The research tries to evaluate the factors and identify behavioral traits of consumers if they exist in decision making. The study also tries to...

Persistent link: https://www.econbiz.de/10013245656

Heuristics and public policy : decision making under bounded rationality

Dhami, Sanjit S.; Al-Nowaihi, Ali; Sunstein, Cass R. - 2018

How do human beings make decisions when, as the evidence indicates, the assumptions of the Bayesian rationality approach in economics do not hold? Do human beings optimize, or can they? Several decades of research have shown that people possess a toolkit of heuristics to make decisions under...

Persistent link: https://www.econbiz.de/10011926917

Confidence, Self-Selection and Bias in the Aggregate

Enke, Benjamin; Graeber, Thomas Wilhelm; Oprea, Ryan - National Bureau of Economic Research - 2022

The influence of behavioral biases on aggregate outcomes like prices and allocations depends in part on self-selection: whether rational people opt more strongly into aggregate interactions than biased individuals. We conduct a series of betting market, auction and committee experiments using 15...

Persistent link: https://www.econbiz.de/10013334479

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