This paper argues that the perspective of ordonomic - a rational-choice based analysis of (interdependencies between) social structure and semantics - can provide new insights into the changing role of business in society. We claim (a) that the proper role of business is societal value creation,...

Der Artikel entwickelt in Auseinandersetzung mit Alfred Krupps Wohlfahrtsprogramm aus dem 19. Jahrhundert einen ordonomischen Beitrag, wie Unternehmen 'Moral als Produktionsfaktor' einsetzen können. Die These dieses Beitrags lautet, dass "Corporate Social Responsibility" als strategisches...

Both borrowers and lenders can be socially responsible (SR). Ethical banks commit to financing only ethical projects, which have social profitability but lower expected revenues than standard projects. Instead, no credible commitment exists for SR borrowers. The matching between SR borrowers and...

Is green consumerism beneficial to the environment and the economy? To shed light on this question, we study the political economy of environmental regulations in a model with neutral and green consumers where the latter derive some warm glow from buying a good of higher environmental quality...

We examine the strategic use of Corporate Social Responsibility (CSR) in imperfectly competitive markets. The level of CSR determines the weight a firm puts on consumer surplus in its objective function before it decides upon supply. First, we consider symmetric Cournot competition and show that...