The standard tool for analysing social dilemmas is game theory. They are reconstructed as prisoner dilemma games. This is helpful for understanding the incentive structure. Yet this analysis is based on the classic homo oeconomicus assumptions. In many real world dilemma situations, these...

China is appraised to have the world's largest exploitable reserves of shale gas, although several legal, regulatory, environmental and investment-related issues will likely restrain its scope. China's capacity to successfully face these hurdles and produce commercial shale gas will have a...

We wish to examine critically the viewpoint that: a) economists take too narrow a view of rationality and do not recognize the role of emotions as a component of rationality and b) do not address the question of whether preferences are rational or not, and instead take them as just given. We...

For decades, experimental economics has been very interested in behavior that could be characterized as practicing solidarity (although the term is rarely used). Solidarity is a key concept in Catholic Social Teaching. This paper builds a bridge between these two endeavors that, thus far, had...

Recent literature on Adam Smith and other 18th-century Scottish thinkers shows an engaged conversation between the Scots and today's scholars in the sciences that deal with humans—social sciences, humanities, as well as neuroscience and evolutionary psychology. We share with the 18th-century...

Using data from the German Socio-Economic Panel Survey (SOEP), this paper assesses the relationship between life satisfaction and religious practice. The main new result here is longitudinal. It is shown that individuals who become more religious over time record long term gains in life...

2016 jährte sich das Erscheinen des Artikels von John Maurice Clark mit dem in der Überschrift genannten Titel im Journal of Political Economy zum hundertsten Mal. Clark legt in diesem Artikel seine Vorstellungen zur Entwicklung einer "economics of responsibility" und zur Wahrnehmung von...

This paper may be summarized by the following points. First, the crisis of the liberal world order arises from a misalignment of our social, economic and political domains of activity, along with a resulting destabilization of our physical environment. The integration of the global economy has...

Corporate financial economic programs are almost universally featured in economics and management degrees and, therefore, are an essential component of the culture-building process for current and future economists and managers. Nevertheless, these programs are not restricted to financial...