How is it possible that models from game theory, which are typically highly idealised, can be harnessed for designing institutions through which we interact? I argue that game theory assumes that social interactions have a specific structure, which is uncovered with the help of directed graphs. The graphs make explicit how game theory encodes counterfactual information in natural collections of its models and can therefore be used to track how model-interventions change model-outcomes. For model-interventions to inform real-world design requires (...) the truth of a causal hypothesis, namely that structural relations specified in a model approximate causal relations in the target interaction; or in other words, that the directed graph can be interpreted causally. In order to increase their confidence in this hypothesis, market designers complement their models with natural and laboratory experiments, and computational methods. Throughout the paper, the reform of a matching market for medical residents provides a case study for my proposed view, which hasn't been previously considered in the philosophy of science. (shrink)

There continues to be significant confusion about the goals, scope, and nature of modelling practice in neuroeconomics. This article aims to dispel some such confusion by using one of the most recent critiques of neuroeconomic modelling as a foil. The article argues for two claims. First, currently, for at least some economic model of choice behaviour, the benefits derivable from neurally informing an economic model do not involve special tractability costs. Second, modelling in neuroeconomics is best understood within Marr’s three-level (...) of analysis framework and in light of a co-evolutionary research ideology. The first claim is established by elucidating the relationship between the tractability of a model, its descriptive accuracy, and its number of variables. The second claim relies on an explanation of what it can take to neurally inform an economic model of choice behaviour. 1 Introduction2 Neurally Informed Models of Choice: A Case Study2.1 A case study on risk-sensitive choice2.1.1 Target and modelling framework2.1.2 Research question and hypotheses2.1.3 Competitive models of risk-sensitive behaviour2.1.4 Model-based fMRI: from economics to brains and back2.2 Neurally informed modelling3 Tractability: When Does Size Matter?4 Neural Integration and the Co-evolutionary Research Ideology5 Conclusion. (shrink)

Although it is suggested that an important role for codes of ethics is to influence decision making, the little research into the impact of codes of ethics on decisions finds little impact. Insights from information economics help to explain this. If an individual will select the action that a code of ethics indicates to be ethical in the absence of a code, then expressing that position in a code of ethics will have no impact on the action chosen. (...) Even if the individual will select the action that a code of ethics indicates to be unethical in the absence of a code, the presence of a statement in the code of ethics must cause the individual's beliefs to change enough so that he or she changes actions. This can be a fairly high obstacle. Enforcement provisions can increase the likelihood that an individual will select the action that a code of ethics indicates to be ethical. There are limits, however, as to how effective enforcement provisions can be. Therefore, although there may be other important goals for a code of ethics, having an impact on decision making is one that is often difficult to achieve. (shrink)

This research aims at establishing the impact of information and communication technologies (ICT) on e-commerce development of industrial enterprises by means of economic and mathematical modelling. The goal was achieved using the following methods: theoretical generalization, analysis and synthesis (to critically analyse the scientific approaches of scientists regarding the expediency of using mathematical models in the context of enterprises’ e-commerce development), target, comparison and grouping (to reveal innovative methodological approach to assessing ICT impact on e-commerce development of industrial enterprises), (...) tabular, analytical and integral method (for summarizing the analysis results of enterprises readiness to implement ICT, ICT use in the activities of industrial enterprises of Ukraine and the analysis of e-commerce development), mathematical modelling (to build a regression model determining impact of changes in ICT use on the market share occupied by industrial enterprises), generalization (to determine promising directions of e-commerce developing of industrial enterprises). The implementation of a comprehensive approach to understanding the importance of ICT influence on e-commerce development of industrial enterprises will ensure acceleration of the digitalization of business processes, will contribute to the speed increase of enterprises response to customer requests, and increase the market share occupied by enterprises. A new vision of directions for developing e-commerce of industrial enterprises is suggested, which are determined by the need for enterprise rebranding, the development of e-commerce tools and technologies, the importance of outsourcing service automation and promotion of subscription trade. ICT is considered as integration factor that determines prospects for e-commerce development of industrial enterprises and contributes to increasing efficiency of online business management. Research results demonstrate that the use of economic and mathematical modelling is an important tool for assessing ICT impact, and its absence can negatively affect the accuracy and validity of online business management. (shrink)

The article considers the features of ensuring the economic security of enterprises in the conditions of intensive introduction of information technologies in their activities in the process of forming the digital economy. It is determined that digitalization creates important advantages for enterprises in terms of implementing a long-term strategy for their development, strengthening economic security, and achieving significant competitive advantages in doing business. It is studied that the system of economic security of the enterprise is an organized set of (...) elements of the management infrastructure of the enterprise, which are focused on ensuring stable and effective development of the business entity, neutralization, and elimination of internal and external threats. (shrink)

Definition of the problems: The physician-patient-relationship is influenced by economically driven decisions. This study explores the ethical consensus in explaining economical backgrounds of therapeutic and diagnostic interventions to patients, and the clinical practices of patient information.Method: A combination of questionnaire send to members of relevant health care organisations (n=132) and interviews with physicians working in different clinical resorts (n=15).Results and conclusion: In general there is a consensus in truth-telling about the economical background, however this ethical principle in many cases (...) is neglected. Whenever possible physicians try to translate economically driven decisions into medical terms. There is a broad disagreement and a wide range of individual ethical preferences regarding patient information, that can not be controlled by patients in any way. (shrink)

The economic distinction between technological and market information offers a useful guide to the relationship between information and policy. The two types create different problems for markets and require different emphases in public policy, focusing on either the production or the distribution of information. The interaction of the two types creates familiar policy problems such as underinvestment in information, adverse selection and moral hazard. Indicators and other means of dealing with such problems constitute policies and demonstrate (...) not only the importance of information for policy but the necessity of policy for information. (shrink)

The emergence of information, and more recently, mobile broadband telecommunication technologies, was accompanied by the hype that they could serve to close the economic, educational, digital, and social gaps of our planet among the rich and the poor regions. The hopes, which were based on a number of assumptions, were partly dismissed at the dawn of the new millennium for a number of reasons exemplified in this article. The authors propose a repertoire of pathways through which technology may still (...) serve to bridge the divide. They conclude that in order to achieve this goal, developing nations need not only to understand the complex interrelationships between technology and development, but moreover, to demonstrate their commitment and will by implementing a well-thought and aggressive strategy. (shrink)

This thesis studies the enabling properties of ICT and their effects and potential for social change, and prepares the ground for a sustainability-oriented ethico-political assessment of this technology. It primarily builds on interdisciplinary scholarship to describe and explain the multifaceted co-evolution between the global deployment of ICTs and the emergence of the Information Society, understood as a socioeconomic restructuring of capitalism. Beyond the role of ICTs in this regime transition, the thesis delivers other philosophical insights about crucial aspects of (...) ICT development, applications and management. These include arguments about how we should conceptualize ICTs on the basis of their different roles in extending human communication and in performing or facilitating the remote control of humans and animals, machines and systems operations; about the entanglement between telecommunications, transport networks, urban development and work and organization; and about the relations between ICTs, culture and human values. Examples are offered to illustrate the potential that these empirical and philosophical lessons may hold for the construction of a framework for the ethico-political assessment of ICTs. (shrink)

The purpose of the study is to reveal the essence of economic security in the Internet environment, to identify and analyze statistical data on this issue. The scientific novelty of the study lies in the fact that for the first time a comparison with foreign practice is made. As a result, some places that require improvement in this area are identified, the essence and understanding of new terms are revealed, and the principle of neural networks is explained. This work is (...) devoted to the problem of the spread of economic crime associated with the use of new technologies. In view of the development of the innovative sphere, the emergence of new technologies, there are also new threats to economic security. The article examines the history of cybercrime in the economic sphere, the basic principles of economic security from the side of new technologies, and provides current statistics on economic crimes from the point of view of the loss of information security by economic entities. Recommendations for reducing the level of economic crime in the information environment are formulated. (shrink)

Volume 52, Issue 8, July 2020, Page 834-834.

This 1992 book examines alternative methods for achieving optimality without all the apparatus of economic planning, or a vain reliance on sufficiently 'perfect' competition. All rely entirely on the self-interest of economic agents and voluntary contract. The author considers methods involving feedback iterative controls which require the prior selection of a 'criterion function', but no prior calculation of optimal quantities. The target is adjusted as the results for each step become data for the criterion function. Implementation is built in by (...) the incentive structure, and all controls rely on consistency with the self-interest of individuals. The applicability of all the methods is shown to be independent of the form of ownership of enterprises: examples are given for industries which are wholly privately owned, wholly nationalized, mixed and labour-managed. (shrink)

Zusammenfassung Mit Beginn der Spielzeit 2013/14 traten alle Maßnahmen des UEFA Financial Fair Play-Konzeptes in Kraft. Vornehmliches Ziel dieses regulatorischen Eingriffs ist es, der wachsenden Verschuldungs­rate auf Seiten der europäischen Vereine sowie der zunehmenden Abhängigkeit von Investoren entgegenzusteuern. Um die Effektivität und Effizienz solcher Maßnahmen zu erhöhen, ist ein tief­gehendes Verständnis der institutionellen Rahmenbedingungen unabdingbar. Vor diesem Hinter­grund beschreibt und interpretiert der konzeptionelle Artikel das Verhältnis zwischen der UEFA und den Klubs mit Hilfe eines institutionenökonomischen Instrumentariums. Aus verfügungsrecht­licher Sicht wird (...) eine Verschiebung der Eigentums- und Machtverhältnisse zu Ungunsten der UEFA skizziert. Weiter zeigt sich, dass die Beziehung zwischen dem Dachverband und den Vereinen in vielen Aspekten einer klassischen Principal-Agent-Dyade entspricht. Die vorliegende Analyse baut diesbezüglich auf einer vorherigen Fallstudie von Schubert auf und entwickelt dessen Modell weiter. Die von der UEFA im Rahmen von Financial Fair Play verfolgte Strategie wird evaluiert, um daraus theoriebasiert handlungsleitende Gestaltungsempfehlungen zur Steigerung der Wirksamkeit des regulatorischen Eingriffs abzuleiten. (shrink)

In medical research, the ethical principle of respect for persons is operationalized into the process of informed consent. The consent tools should be contextualized and adapted to the different socio-cultural environment, especially when research crosses the traditional boundaries and reaches poor communities. We look at the challenges experienced in the malaria Quinact trial, conducted in the Democratic Republic of Congo, and describe some lessons learned, related to the definition of acceptable representative, the role of independent witness and the impact of (...) socio-economic vulnerability. To ensure children's protection, consent is required by the parents or, in their absence, by a legally mandated representative. In our setting, children's responsibility is often entrusted permanently or temporarily to relatives or friends without a tribunal mandate. Hence, a notion of ‘culturally acceptable representative’ under supervision of the local Ethics Committee may be more suitable. To ensure protection of illiterate subjects, an independent witness is required to confirm that the consent was freely given. However, in low-literacy contexts, potential witnesses often don't have any previous relationship with patient and there may be power-unbalance in their relationship, rather than genuine dialogue. In poor communities, trial participation may be seen as an opportunity to secure access to healthcare. Poverty may also lead to ‘competition’ to access the research-related benefits, with a risk of disturbance at societal or household level. Adjusting consent procedures to sociocultural and socioeconomic realities is essential for fulfilling the underlying ethical principles. This requires a collaborative dialogue between researchers, regulators and ethics committees. (shrink)

Claims about the potential of free software to reform the production and distribution of software are routinely countered by skepticism that the free software community fails to engage the pragmatic and economic ‘realities’ of a software industry. We argue to the contrary that contemporary business and economic trends definitively demonstrate the financial viability of an economy based on free software. But the argument for free software derives its true normative weight from social justice considerations: the evaluation of the basis for (...) a software economy should be guided by consideration of the social and cultural states which are the ultimate goals of any economic arrangement. That is, the software economy should be evaluated in light of its ability to provide justice. We conclude with a discussion of possible avenues for reform. (shrink)

The principal findings of experimental economics are that impersonal exchange in markets converges in repeated interaction to the equilibrium states implied by economic theory, under information conditions far weaker than specified in the theory. In personal, social, and economic exchange, as studied in two-person games, cooperation exceeds the prediction of traditional game theory. This book relates these two findings to field studies and applications and integrates them with the main themes of the Scottish Enlightenment and with the thoughts (...) of F. A. Hayek. (shrink)

This book, first published in 2006, examines the incentives at work in a wide range of institutions to see how and how well coordination is achieved by informing and motivating individual decision makers. The book examines the performance of agents hired to carry out specific tasks, from taxi drivers to CEOs. It investigates the performance of institutions, from voting schemes to kidney transplants, to see if they enhance general well being. The book examines a broad range of market transactions, from (...) auctions to labor markets, to the entire economy. The analysis is conducted using specific worked examples, lucid general theory, and illustrations drawn from news stories. Of the seventy different topics and sections, only twelve require a knowledge of calculus. The second edition offers new chapters on auctions, matching and assignment problems, and corporate governance. Boxed examples are used to highlight points of theory and are separated from the main text. (shrink)

This book provides a detailed theoretical overview and analytical understanding of informal labour markets in the context of economic reforms. Grounded in the neo-classical general equilibrium framework, it analyses the impact of deregulatory policies on the welfare of informal workers in a segmented labour market.

In noise we hear the possibility of a signal, indeed different signals, and in the multiplicity of signals we hear noise. With variation and selection comes dynamic evolution, a contingent state, one that could be otherwise. The term ‘polemogenous’ (from the French, polémogène) means that which generates polemics. And polemics are creative. If everyone, every system, were to reason in the same way, there would be silence. Every remark would be redundant, having no informational value. Thus noise is not bad. (...) The essence of finance economics, like all that is social in nature, is a forming of meaning. Whatever cannot be formed meaningfully is not available to the system. This unavailability, as ‘noise’, is the dynamic difference (noise/information) that scintillates the system. Information, like morality, is polemogenous – it stirs contention. Without noise and the possibility of its conversion to information there would be no opportunities to exploit. This paper applies a systems theoretical understanding of observation to conceive of finance economics as the economy’s means of observing its noise and capitalizing on that polemic. Niklas Luhmann’s method is utilized to explicate some ideas on noise by financial economist Fischer Black, who suggests the incomprehensible is computable. This is finance. The fact that logical grounds, absolute deductions, and clear calculations are claimed to be rare in finance is no barrier to understanding it. Rather, this polyphonic and polemogenous information-selection is the ‘ground’ of finance, not as totalizing logic, but as different difference-production for the sake of deriving economic opportunity. (shrink)

In the text, I discuss the abilities and challenges of information systems interoperability. The anticipated and expected result of interoperability is to improve the provision of public utility services to citizens and companies by means of facilitating the provision of public utility services on the basis of a “single window” principle and reducing the costs incurred by public administrations, companies, and citizens, resulting from the efficiency of the provision of public utility services. In the article, the conceptual framework of (...) interoperability is elaborated upon. Moreover, information systems and public registers for entrepreneurs in Poland exemplify whether the interoperability may be applied and, if so, whether interoperability fulfils its targets to the extent of e-Government services for entrepreneurs. (shrink)

Irrational debt decisions at the individual level may harm collective welfare. For this reason, regulators are committed to encourage information-based behaviours in order to enhance likelihood of appropriate indebtedness. We analyse, with a diff-in-diff estimator, the Italian case offered by the Legislative Decree that reformed the consumer credit market adopting European Directive 2008/48/ec, and that reinforced the mandatory information acquisition, jointly asked to lenders and borrowers, before granting/receiving consumer credit. By using micro-data on 60.000 consumer credit borrowers, in (...) total, randomly sampled from the most relevant Italian Credit Bureau, our findings support that, in the medium term, the new consumer credit regulation has improved borrowers’ repayment ability, enhancing the quality of credit distribution. Nevertheless, a simplistic ‘better information-better behaviour’ relationship cannot be assured. This success is likely due to conjunct adaptation of behaviours, with shared responsibilities experienced on both the demand and offer side of the consumer credit marketplace. (shrink)

In a globalized world, business ethics continues to gain importance as a field of study. Using a novel approach that centres on economic theory and analysis, this book provides students with a comprehensive overview of the essential concepts of business ethics related to both the economy as a whole and corporate ethics of the individual company.

Free and open source software is taking an increasingly significant role in our software infrastructure. Yet many questions still exist about whether a software economy based on FOSS would be viable. We argue that contemporary trends definitively demonstrate this viability. Claiming that an economy must be evaluated as much by the ends it brings about as by its size or vigor, we draw on widely accepted notions of redistributive justice to show the ethical superiority of a software economy based on (...) FOSS. (shrink)

Human capital and ICT have a significant role in determining human development. The impacts of ICT and human capital on green growth and environmental sustainability should be explored for sustainable economic development. This research contributes to the literature on the role of ICTs and human capital in the determination of green growth and environmental performance. Based on time-series data 1990–2019, the study intends to investigate the impact of ICTs and human capital on environmental and green growth performance for China. The (...) study reports that ICTs tend to reduce CO2 emissions and improve green growth in the long-run. However, education reduces CO2 emissions in the long-run but does not produce any significant impact on green growth in the long-run. It is suggested that government should invest in environmental efficiency and environmental technologies simultaneously with human capital that could significantly contribute to pollution reduction. Lastly, policies to increase human capital should be implemented simultaneously with policies to promote ICTs contribution in order to confirm green growth and environmental protection. (shrink)

The analysis of data from electronic health records aspires to facilitate healthcare efficiencies and biomedical innovation. There are also ethical, legal and social implications from the handling of sensitive patient information. The paper explores the concerns, expectations and implications of the National Health Service England care.data programme: a national data sharing initiative of linked electronic health records for healthcare and other research purposes. Using Nissenbaum’s contextual integrity of privacy framework through a critical Science and Technology Studies lens, it examines (...) the way technologies and policies are developed to promote sustainability, governance and economic growth as the de facto social values, while reducing privacy to an individualistic preference. The state, acting as a new, central data broker reappropriates public ownership rights and establishes those information flows and transmission principles that facilitate the assetisation of NHS datasets for the knowledge economy. Various actors and processes from other contexts attempt to erode the public healthcare sector and privilege new information recipients. However, such data sharing initiatives in healthcare will be resisted if we continue to focus only on the monetary and scientific values of these datasets and keep ignoring their equally important social and ethical values. (shrink)

The topics of modeling and information come together in at least two ways. Computational modeling and simulation play an increasingly important role in science, across disciplines from mathematics through physics to economics and political science. The philosophical questions at issue are questions as to what modeling and simulation are adding, altering, or amplifying in terms of scientific information. What changes with regard to information acquisition, theoretical development, or empirical confirmation with contemporary tools of computational modeling? In (...) this sense the title of this article is read in the following way: What kind of information is modeling information? What kind of information does modeling give us? (shrink)

Whether intended or not, conceptions of informed consent are often rooted in archetypal notions of the researcher and prospective study participant. The former is assumed problematically to be a disinterested yet humanitarian individual who is well trained to conduct robust science. The latter is often characterized as being motivated by some altruistic notions about the contribution to science and society they are making even as they seek some personal benefit from the research. Cast in a dyad, the researcher has the (...) responsibility to inform the participant thoroughly about the purpose of the research, the risks and benefits of participation, and any alternatives to research available, as well as the .. (shrink)

The article aims to demonstrate that the nudge theory suffers from three main weaknesses stemming from its theoretical dependence on behavioural economics. The first two weaknesses endanger the paternalistic goal, whereas the third does not justify the libertarian attribute. The first weakness lies in the incomplete realistic characterisation of behavioural economics theory that is the central theoretical pillar of Nudge theory. The second weakness is even more relevant. The normative model of behavioural economics is neoclassical rationality. It (...) can be applied to choices in conditions of risk, when it is possible to forecast the probability of the outcomes of one’s choices. On the contrary the real life problems are inside a complex and uncertain environment. In an uncertain environment the neoclassical algorithms are no longer valid, in that they postulate the knowledge of the probability of the outputs. Thus errors and bias, as observed in behavioural economics, are not such in many instances, but they are instead adaptive and therefore rational responses to the context of decision-making. Therefore nudge theory that pursues the normative paternalistic objective of neutralising the bias and judgement errors discovered by behavioural economics and putting paternalistically the citizen on the right track, is in fact proceeding in the wrong direction. The last weakness concerns an assumption of Nudge theory about the duality of mind. System 1 represents the intuitive mind, while System 2 corresponds to the analytical one. System 1 tends to make decisions quickly and unconsciously, while System 2 follows a slow and conscious process. Biases and judgement errors are mainly generated by System 1. However, System 2 may later intervene to correct them. From this premise, the Nudge theory affirms its libertarian character. In this paper I will argue that the dualism of the mind would not entail the reversibility of some nudges, particularly of default states. In this way the fundamental pillar is weakened to justify the libertarian character of the nudge theory. (shrink)

Nietzsche distinguished between two forces in art: Apollonian, which represents order and reason, and Dionysian, which represents chaos and energy. Economists, Ward argues, have operated for too long under the assumption that their work reflects the scientific, Apollonian principals that inform physics when they simply do not apply to economics: 'constants' in economics stand in for variables, and the core scientific principles of prediction and replication are all but ignored by economists. Ward encourages economists to reintegrate the standard (...) rigor of the scientific method into their work while embracing the fact of the shape-shifting changeability of human beings. Economists can still aspire to scientific standards, as is demonstrated by the success of biology, in which there is considerable Dionysian variability. Economists must avoid the temptation to wish away dynamic complexity and diversity and must recognize, among other things, that the desire to take risks is fundamentally human. The second half of the book takes some first steps toward creating this new Dionysian Economics. (shrink)

The formulation of quantum mechanics as a diffusion process by Nelson provides for an interesting approach on how we may transit from classical mechanics into quantum mechanics. Besides the presence of the real potential function, another type of potential function forms an intrinsic part of this theory. In this paper we attempt to show how both types of potential functions can have a use in a resolutely macroscopic context like financial asset pricing. We are particularly interested in uncovering how the (...) ‘quantum potential’ can add to the economics-based relevant information which is already supplied by the real potential function. (shrink)

An important part of what it means for agents to be situated in the everyday world of human affairs includes their engagement with economic practices. In this paper we employ the concept of cognitive institutions in order to provide an enactive and interactive interpretation of market and economic reasoning. We challenge traditional views that understand markets in terms of market structures or as processors of distributed information. The alternative conception builds upon the notion of the market as a ‘scaffolding (...) institution’. Introducing the concept of market as a ‘socially extended’ cognitive institution we go beyond the notion of scaffolding to provide an enactive view of economic reasoning that understands the market participant in terms of social interactive processes and relational autonomy. Markets are more than inert devices for information processing; they can be viewed as ‘highly scaffolded’, where strong constraints and incentives predictably direct agents’ behavior. Building on this idea we argue that markets emerge from (a) the economic interaction of both supply and demand sides, in continual and mutual interplay, and (b) more basic social interactions. Consumer behavior in the marketplace is complex, not only determining the market price, but also extending the consumer’s cognitive processes to reliably attain a correct evaluation of the good. Moreover, this economic reasoning is socially situated and not something done in isolation from other consumers From a socially situated, interactive point of view buying or not buying a good is something that enacts the market. This shifts the status of markets from external institutions that merely causally affect participants’ cognitive processes to social institutions that constitutively extend these cognitive processes. On this view the constraints imposed by social interactions, as well as the possibilities enabled by such interactions, are such that economic reasoning is never just an individual process carried out by an autonomous individual, classically understood. In this regard, understanding the concept of relational autonomy allows us to see how economic reasoning is always embodied, embedded in, and scaffolded by intersubjective interactions, and how such interactions make the market what it is. (shrink)

This article examines whether economic performance could affect EID and how the relationship is determined by the form of ownership from voluntarism to regulation under the current Chinese context. In this study, our empirical results show that the relationship between firms’ performance and EID is complex and the interactive impact of ownership and economic performance on EID significantly varies from voluntary disclosure to mandatory disclosure. This study provides a more comprehensive understanding of the motivations in corporate EID. The performance–impression theory (...) can be used to explain the disclosure behaviors during the period of voluntary disclosure, while the pressure–legitimacy theory can be used during the period of mandatory disclosure. The finding suggests that when evaluating corporate EID associated with economic performance in emerging economies such as China, it needs to be cautious, as which tends to vary with the form of ownership and whether there is any mandatory regulation in place. (shrink)

The field of behavioural economics has produced a number of valuable insights into the psychology of irrational behaviour, consumerism and morality. One particularly interesting line of research is that of dishonesty, especially the episodic dishonesty of generally honest people. Currently, an experimental paradigm examining these kinds of research questions is being undertaken, and, using Dan Ariely's Predictably Irrational as a starting point, can broaden the scope of behavioural economics to consider philosophically salient issues as well. In this article, (...) a survey of the ability of behavioural economics to investigate traditionally philosophical questions, as well as moral issues, will be undertaken. A particular focus will be the discussion of further research directions made available by the paradigm of “experimental philosophy” and how behavioural economics can inform this project, followed by a discussion of the current experimental paradigm, and why this research will have larger consequences in a number of social dimensions. (shrink)

In the present world order unbridled forces of free market capitalism are frequently cited for much of the social injustice, inequity, and disparity of wealth between the rich and the poor. Although history''s verdict in favor of the free markets could hardly be harsher or clearer, it is clear that after the initial wave of triumph, the free market paradigm has developed some cracks in its façade. What marks the trail of such sustained and pronounced move toward free markets in (...) terms of ethics, morality, social welfare and social justice? How does one keep a social score in this seemingly relentless and irreversible move all over the world toward free market capitalism?In this paper we shall attempt to address these and related questions. Drawing on concepts from organization theory and social philosophy and using publicly available financial information, we shall illustrate how, amidst the myriad and mixed noises, some sense of order and signal can be discerned in addressing issues of equity and social justice. Toward this end, first, we provide a broad contrast between two models of financial markets: the command model and the free market model and proceed to examine publicly available financial information and analyze the trends and patterns with graphical representations using publicly available data from Handbook of International Economic Statistics. Next, we explore the implications of financial performance measures for social welfare and social justice and discuss the social perils of free markets using the Mexican and Asian Financial crises as the focal points. Finally, we present a set of recommendations for smoother structural transition. (shrink)

This book is unique because it is the first single-author monograph which applies Bourdieu’s theory to management studies. It takes a theory-driven approach to develop models to describe service innovation. This will give the reader a full understanding of the variety of different theoretical concepts that Bourdieu created and used and how they can be applied to the study of management and innovation. Moreover, it is also the only book that links Bourdieu’s theory to his methodological approach, providing the reader (...) with a toolkit of methods to perform business ethnographies according to Bourdieu’s approach. The book acts as a primer for anyone wanting to learn how to model an organisational system from a Bourdieusian perspective. It contains all the information someone might need to begin to go out in the field and collect data. Consequently, the people that might want to read this publication include post-graduate students looking to learn business anthropology, as well as post-doctoral and other early career researchers. (shrink)

This article examines the contribution of a sectoral approach to understanding gender constraints on economic success in the informal sector, using the example of self-employed women in home-based garment production in Ahmedabad, India. The author assesses whether all the constraints laid out in the gender and microenterprise development literature affect women in this sector and, if not, suggests how theory on gender inequality in the microenterprise sector needs to be rethought to address variation by sector. Constraints are disaggregated into women (...) intensive, women exclusive, and sector specific. The results show that the women-exclusive constraints all hold within this sector, that there is variation among the women-intensive constraints in their differential gender effect, and that some sector-specific constraints tend to be more intense for women relative to men. The latter two results suggest that variation by economic activity must be accounted for in understanding the sources and extent of gender inequality in economic outcomes. (shrink)

This book shows through argument and numerous policy-related examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral philosophy together can inform public policy. Part I explores the idea of rationality and its connections to ethics, arguing that when they defend their formal model of rationality, most economists implicitly espouse contestable moral principles. Part II addresses the nature and measurement of welfare, utilitarianism and cost-benefit analysis. Part (...) III discusses freedom, rights, equality, and justice - moral notions that are relevant to evaluating policies, but which have played little if any role in conventional welfare economics. Finally, Part IV explores work in social choice theory and game theory that is relevant to moral decision making. Each chapter includes recommended reading and discussion questions. (shrink)