We investigate experimentally whether the protégés' reaction to paternalism depends on the consequences of the paternalistic action to their well-being. We find that protégé punish a paternalist restricting their freedom of choice. Yet, this negative reaction is not based on principled...

Purpose – The purpose of this paper is to examine the potential effectiveness of government reforms aimed at improving the accuracy of ratings issued by credit ratings agencies in US financial markets. Design/methodology/approach – The paper identifies unconscious bias as a source of...