The economic science, the so-called ‘neoclassical economics’, has usually avoided considering the values of its field of study. This has led to important limitations in its theoretical system. This article intends to go beyond this neutral positivist approach. It presents different...

Human beings display a complex set of behavioural predispositions, including a strong inclination to pursue self-interest but also empathy, receptivity to norms of reciprocity, and an inclination to punish violators of such norms. Not only are workable economic arrangements constrained by the...

This paper analyzes the effect of unions on the duration of non- work spells of claimants in the workers' compensation insurance system. It has been argued that a union may affect the duration of non-work spells in two ways. First, a union may alter the true level of workplace safety and, in...

What is the best way to deliver various goods and services in the advanced complex economy? What is the appropriate division of labor among the state, the private for-profit, and the nonprofit sectors? This paper explores these questions relative to the well-being of consumers, and offers a set...

This paper discusses communist Romania, the economy in the Ceausescu era, 1965-1989, the economy after the Revolution of December 22, 1989, and current problems and prospects for the Romanian economy.

The paper compares behavior in economic dictator game experiments played with actual money (amounts given by "dictator" subjects) with behavior in hypothetical dictator game experiments where subjects indicate what they would give, although no money is actually exchanged. The average amounts...

Why are some firms purchased by their employees? This paper explores this question theoretically, suggesting that employees may attempt to overcome their informational handicap regarding firm profitability by making simultaneous offers on wages and a purchase price for the firm. Owners of...

The study examines trust by investigating potential determinants (factors determined at birth and childhood) and correlates (various views and attitudes) of trusting and trustworthiness. We examine behavioral and survey measures and conclude that the amount sent in the trust game is a good,...

We conduct dictator game experiments in which women and men are allowed to split $10 with a completely unknown person or a person of known gender. Subjects also complete personal background surveys, personality tests, and a cognitive test. We find that (a) gender information significantly...

We compare the structure and performance of for-profit (FP), nonprofit (NP) and local government (LG) organizations. These organizations differ in their ownership structure, objectives and agency relations. We conjecture that, compared to NP and LG, FP firms (a) delegate less decision-making...