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This paper discusses three alternative assumptions concerning household preferences (altruism, self-interest, and a …
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First the assumption of self-interest as applied in Economics is presented. Here we also discuss areas in which (many) people behave less self- but more other-regarding than traditional economic models assume. Then, greedy behaviour is considered as existing in the political and economic...
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by Adam Smith in the Theory of moral sentiments and connect these with the themes Smith subsequently discusses in the …
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