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Recent years have witnessed a growing interest in behavioral trends in both economic theory and practical applications …
Persistent link: https://www.econbiz.de/10010520903
Public choice theory has originally been motivated by the need to correct the asymmetry, widespread in traditional …
Persistent link: https://www.econbiz.de/10010238281
Explaining individual behavior in politics should rely on the same motivational assumptions as explaining behavior in the market: That’s what Political Economy, understood as the application of economics to the study of political processes, is all about. In its standard variant, those who...
Persistent link: https://www.econbiz.de/10010412852
An evolutionary perspective on economic behavior has to account for the influences that the human genetic endowment has on the choices the agents make. Likely to have been fixed in times of fierce selection pressure, this endowment is presumably adapted to the living conditions of early humans....
Persistent link: https://www.econbiz.de/10008758980
Regulatory arbitrage — defined as the manipulation of regulatory treatment for the purpose of reducing regulatory costs or increasing statutory earnings — is often seen in heavily-regulated industries. An increase in the regulatory nature of copyright, coupled with rapid technological...
Persistent link: https://www.econbiz.de/10012899681
In three distinct disciplines, crime and punishment are studied experimentally: in empirical legal studies, in experimental economics, and an experimental criminology. These three disciplines have surprisingly little interaction. The current paper surveys the rich evidence, and discusses the...
Persistent link: https://www.econbiz.de/10012993829
Persistent link: https://www.econbiz.de/10010191082
That the rationality of individual people is ‘bounded’ – that is, finite in scope and representational reach, and constrained by the opportunity cost of time – cannot reasonably be controversial as an empirical matter. In this context, the paper addresses the question as to why, if...
Persistent link: https://www.econbiz.de/10014150388
In this paper we critically review the literature on rational choice theory (RCT) and the critical approaches to it. We … will present a concise description of the theory as defended by Gary Becker, Richard Posner and James Coleman (as well as … neuroeconomics. Our intention is to present an improved theory of rational choice that, informed from the above discussion, will be …
Persistent link: https://www.econbiz.de/10014190167
Recent years have witnessed a growing interest in behavioral trends in both economic theory and practical applications …
Persistent link: https://www.econbiz.de/10013030597