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Reconciling Altruistic, Moralistic, and Ethical Behavior with the Rational Economic Agent and Competitive Markets
Altman, Morris - 2010
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,...
Persistent link: https://www.econbiz.de/10014199020
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Equity Stakes and Exit : An Experimental Approach to Decomposing Exit Delay
Elfenbein, Daniel W. - 2015
costs and uncertainty. We construct a laboratory experiment that enables us to compare the timing of participants' exit …
Persistent link: https://www.econbiz.de/10013034037
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Investment in Outside Options as Opportunistic Behavior : An Experimental Investigation
Morita, Hodaka - 2018
Ex-post opportunistic behavior, commonly present in bilateral trade relationships, is a key element of the transaction cost economics. Investment in outside options is a prime example of such opportunism and often leads to inefficiency, for example by exerting effort to search for alternative...
Persistent link: https://www.econbiz.de/10012937593
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Donations, risk attitudes and time preferences : a study on altruism in primary school children
Angerer, Silvia; Glätzle-Rützler, Daniela; … - 2014
We study with a sample of 1,070 primary school children, aged seven to eleven years, how altruism in a donation … experiment is related to children's risk attitudes and intertemporal choices. Examining such a relationship is motivated by … theories of reciprocal altruism that provide a cornerstone to understand human social behavior. We find that higher risk …
Persistent link: https://www.econbiz.de/10010257602
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A behaviorally-validated warm glow questionnaire
Carpenter, Jeffrey P.; Lyford, Alex; Zhang, Mingfang - 2023
incentive compatible, is costly and time consuming, making it infeasible in many settings. We combine standard altruism and warm … altruism and provide an alternative method for collecting warm glow preferences. …
Persistent link: https://www.econbiz.de/10014286994
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Cooperation and mistrust in relational contracts
Herz, Holger; Schmutzler, Armin; Volk, André - 2016
Work and trade relationships are often governed by relational contracts, in which incentives for cooperative action today stem from the prospective future benefits of the relationship. In this paper, we study how reductions in clarity about the financial consequences of actions, induced by...
Persistent link: https://www.econbiz.de/10011521953
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Cooperation and mistrust in relational contracts
Herz, Holger; Schmutzler, Armin; Volk, André - 2016
Work and trade relationships are often governed by relational contracts, in which incentives for cooperative action today stem from the prospective future benefits of the relationship. In this paper, we study how reductions in clarity about the financial consequences of actions, induced by...
Persistent link: https://www.econbiz.de/10011526817
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Are Ownership Rent and Pure Profit Separate Returns to the Entrepreneur?
Salerno, Joseph T. - 2019
Murray Rothbard developed the concept of decision-making rent as a return to a kind of unhirable labor performed by the entrepreneur in his role as owner and ultimate decision-maker of the firm. Rothbard conceived owner's rent as separate from profit and loss and the decision-making function as...
Persistent link: https://www.econbiz.de/10012891965
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Principal Costs : A New Theory for Corporate Law and Governance
Goshen, Zohar - 2017
The problem of managerial agency costs dominates debates in corporate law. Many leading scholars advocate reforms that would reduce agency costs by forcing firms to allocate more control to shareholders. Such proposals disregard the costs that shareholders avoid by delegating control to managers...
Persistent link: https://www.econbiz.de/10012972091
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Inter-Company Matching and the Supply of Informed Capital
Anjos, Fernando - 2015
We model an economy where it is beneficial for high-type organizations to collaborate with other high types, and where this assortative-matching pattern allows informed financiers to provide inexpensive funds to partner companies of their high-type ventures. The expected funding benefit...
Persistent link: https://www.econbiz.de/10013037219