Scitovsky is known as a forerunner of behavioural economics simply because he drew heavily on psychology and claimed that people's choices may be "joyless" (Scitovsky, The joyless economy, 1976). However, a careful reformulation of his analysis shows that he anticipated a number of insights...

In this paper, we study methods of inferring a decision maker's true preference relation when observed choice data reveal a nontransitive preference relation due to choice mistakes. We propose some sensible properties of such methods and show that these properties characterize a unique rule of...

The effect on the household consumption price index from possible sources of error in capturing digital products depends on the weight of the affected products. To calculate upper bounds for this effect, we apply weights based on the average structure of household consumption in OECD countries...

Eine Betrachtung der moralphilosophisch begründeten Zins- und Wucherkritik früherer Jahrhunderte (bspw. von Aristoteles, Thomas von Aquin oder Martin Luther) aus heutiger Sicht bringt interessante Erkenntnisse zu Tage. So wird deutlich, dass die drei zentralen Kritikpunkte...

Globalization disrupted the seemingly solid construction emerged in the aftermath of WW II, called the international trade system. For over fifty years, the system grew constantly thanks to the increasing number of countries that joint it as well as to its ubiquitously-accepted rules. For better...

Since ancient times the practices and ethics of bankers and banking in general have undergone a great deal of criticism. While lending is motivated by profit, and while households are not explicitly coerced into borrowing money, the justice of a system which exploits workers and at the same time...

In the beginning of the second book of his Politeia (Republic) Plato in passage 2.358e-359a-c raises the issue of the administration of justice as a means of motivating people to behave fairly regarding their relationships and when cooperating with each other because, at the end, this is...

The studies of Giacomo Becattini concerning the notion of the 'Marshallian Industrial District' have led a revolution in the field of economic development around the world. The paper offers an interpretation of the methodology adopted by Becattini. The roots are clearly Marshallian. Becattini...

The monetary ideas of Georg Friedrich Knapp have recently resurfaced in the context of the Modern Monetary Theory whose representatives see themselves in his tradition. The historical debate on Knapp's "State Theory of Money," which divided opinion when it was first published in 1905 as well as...