Contrary to some of the leading critiques of neoclassical theory, I argue that this theoretical framework can incorporate the moral dimension into the modeling of economic agents when the consequences of their choices are not answerable to market forces. Neoclassical theory, broadly defined,...

Research in the analytics of efficiency wage and x-efficiency theories is one of the focal points of behavioral economics. A fundamental assumption to these theories is that of effort discretion-that individuals have some control over both the quality and quantity dimensions of the effort they...