By Philip Alexander Rajko
Economics and ethical philosophy have in recent times been thought of to be targeted and separate fields. in spite of the fact that, behavioural economics has began to reconcile a number of facets of morality and economics, which has provided new conceptual possibilities to enhance economics ethics and company ethics.
This ebook goals to develop fiscal ethics and company ethics via combining normative ideas and empirical facts grounded at the key motivational forces in fiscal selection making. It has 3 middle targets:
- to determine order ethics as a idea of either fiscal ethics and company ethics, utilizing behavioural economics equipment and facts;
- to establish cardinal virtues for contemporary company ethics;
- to to establish priceless instructions for the implementation of monetary ethics and enterprise ethics.
Read or Download Behavioural Economics and Business Ethics: Interrelations and Applications (Routledge Advances in Behavioural Economics and Finance) PDF
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Extra resources for Behavioural Economics and Business Ethics: Interrelations and Applications (Routledge Advances in Behavioural Economics and Finance)
Also a relation between behavioural economics and economic ethics is established, serving as the foundation for the further investigations. 218 It builds on the two central assumptions of rationality and self-interest. 219 Therefore behavioural economics is partly motivated by these deficits. 220 In contrast to the two key assumptions of neoclassical theories, behavioural economics takes different conceptions of rationality as bounded rationality and social preferences instead of strict self-interest.
In the following, I focus on the game-theoretic perspective on cooperation and the resulting lines of argument. 2 A game-theoretic rationale for cooperation The general benefits and operation of cooperation have already been realised by social contract theories. Now a more detailed discussion based on game theory is initiated. 3.
Taking all aspects and application of game theory into account it becomes evident, that it is an excellent tool for order ethics as well. 211 The structure of the prisoner’s dilemma is also central to order ethics because it exhibits the problem of failing to achieve social efficiency, whilst maintaining individual rationality. 214 It also makes order ethics very suitable for the application of game theory. But there are some aspects which have not yet been discussed in sufficient detail.