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Ethics is a field in which the gap between words and actions looms large. Game theory and the empirical methods it … comprises several illustrations of the fruitful application of this approach to ethics. …
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-Stock Companies, Teachers, and Preachers -- Chapter 4: Self-Command in Adam Smith's Theory of Moral Sentiments. A Game …Inspired by his lectures on rhetoric and by game theory, this book provides a new interpretation of Adam Smith’s system … researchers interested in the history of ideas, the history of economic thought, game theory, Enlightenment studies, and rhetoric …
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In this short note, we show investors one way to calculate ideal investment sizing by using two rules of thumb based on a simple outline of individual risk aversion. We illustrate these two heuristics, which are not widely appreciated, with thought experiments involving coin flips and ketchup &...
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People use moral wiggle room to behave selfish. But does a narrow wiggle room necessarily produce better social outcomes? When people disagree on normative goals, economic theories of self-image predict that narrowing the moral wiggle room will make choices not only less selfish but also even...
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The main insight of this paper is that moral behavior does not necessarily alleviate coordination problems or may even worsen them, if individuals possess different degrees of morality. We characterize heterogenous Alger-Weibull morality preferences in a canonical model of voluntary...
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