During the 1950s and 1960s, many economists were convinced that externalities were a cause of "market failures" -- because individuals are not capable of internalizing the costs their actions impose to others -- and therefore that the intervention of the state was necessary to allow an efficient...

In this paper, we analyze the controversy that took place between Blum and Kalven, and Calabresi around rationality or, more broadly, how individuals behave. We analyze how their respective conception regarding this specific aspect was included in their analyses about what economics could say...

The goal of this paper is to study the consequences of non-reciprocal or unilateral altruism, that is, of altruism between individuals who have different concern for others. By contrast to what the literature usually shows — that unilateral altruists lead egoists to cooperate, that...