This paper addresses the question of what role morally oriented behavior plays in the efficiency of market outcomes. This issue is as controversial in economics as it is in sociology. To get a better understanding of the problems and opportunities involved in morally oriented behavior in...

Illegal markets differ from legal markets in many respects. Although illegal markets have economic significance and are of theoretical importance, they have been largely ignored by economic sociology. In this article we propose a categorization for illegal markets and highlight reasons why...

The recent crisis in the United States has often been associated with substantial amounts of policy uncertainty. In this paper we ask how uncertainty about fiscal policy affects the impact of fiscal policy changes on the economy when the government tries to counteract a deep recession. The...

Der Faktor Zeit spielt in der ökonomischen Theorie eine wichtige Rolle - intertemporale Entscheidungen sind in allen Bereichen der Wirtschaftstheorie und -politik relevant. In der überwiegenden Zahl der Fälle stützt man sich dabei auf das sogenannte Discounted-utility-Modell (DU-Modell), in...