Research in the analytics of efficiency wage and x-efficiency theories is one of the focal points of behavioral economics. A fundamental assumption to these theories is that of effort discretion-that individuals have some control over both the quality and quantity dimensions of the effort they...

There is an empirically based premise that neoclassical assumptions about the optimality and efficiency of economic agents in the sphere of production are wrong. According to neoclassical assumptions quantity and quality effort inputs are maximized at all points in time, that is the firms are...

Contrary to some of the leading critiques of neoclassical theory, I argue that this theoretical framework can incorporate the moral dimension into the modeling of economic agents when the consequences of their choices are not answerable to market forces. Neoclassical theory, broadly defined,...