Philosophy of Economics

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  1. Should Market Harms Be an Exception to the Harm Principle?Richard Endörfer - 2021 - Economics and Philosophy.
    Many proponents of the Harm Principle seem to implicitly assume that the principle is compatible with permitting the free exchange of goods and services, even if such exchanges generate so-called market harms. I argue that, as a result, proponents of the Harm Principle face a dilemma: either the Harm Principle’s domain cannot include a large number of non-market harm cases or market harms must be treated on par with non-market harms. I then go on to discuss three alternative arguments defending (...)
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  2. Fixed Interest Rate.Justin Fuoco - manuscript
    This is a suggestion for a predictable economy.
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  3. Sen, Amartya.Sanjit Chakraborty - 2022 - Encyclopedia of Business and Professional Ethics.
    Amartya Sen’s remarkable endeavour to realize the normative capability of welfare economics goes beyond the impecunious resultants of the neoclassical welfare economy. The neoclassical welfare economy decoratively bracketed values to speculate about factual observations. This was due to the influence of logical positivists and their convictions about experimental scientific statements (primarily mathematical) and their vicinity to empirical truths and analytic statements. Sen adequately inquires “whether morality can be expressed in the form of choice between preference patterns rather than between actions” (...)
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  4. Interpersonal Comparisons of What?Jean Baccelli - forthcoming - Journal of Philosophy.
    I examine the once popular claim according to which interpersonal comparisons of welfare are necessary for social choice. I side with current social choice theorists in emphasizing that, on a narrow construal, this necessity claim is refuted beyond appeal. However, I depart from the opinion presently prevailing in social choice theory in highlighting that on a broader construal, this claim proves not only compatible with, but even comforted by, the current state of the field. I submit that all in all, (...)
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  5. Expected Utility in 3D.Jean Baccelli - forthcoming - In Reflections on the Foundations of Statistics: Essays in Honor of Teddy Seidenfeld.
    Consider a subjective expected utility preference relation. It is usually held that the representations which this relation admits differ only in one respect, namely, the possible scales for the measurement of utility. In this paper, I discuss the fact that there are, metaphorically speaking, two additional dimensions along which infinitely many more admissible representations can be found. The first additional dimension is that of state-dependence. The second—and, in this context, much lesser-known—additional dimension is that of act-dependence. The simplest implication of (...)
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  6. Economists, University Rankings, and Leaving the European Union, by M*L*N K*Nder*.Terence Rajivan Edward - manuscript
    In this paper, I present some responses to an argument made by an economist in an online video: that when Britain leaves the European Union, it will be taking many high ranking universities with it, which will lead to an innovation deficit in the union. I present some responses by means of a pastiche of a widely read European fiction writer.
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  7. L’analyse axiomatique et l’attitude par rapport au risque.Jean Baccelli - 2016 - Revue Economique 2 (67):355-366.
    Cette note épistémologique porte sur le statut, en théorie de la décision, des concepts d’attitude par rapport au risque. A première vue, l’analyse axiomatique ne les exploite pas, ce qui reflète une certaine neutralité des modèles de décision au sujet de l’attitude par rapport au risque. Mais un examen plus poussé met en valeur la variation conditionnelle et le renforcement de l’attitude par rapport au risque, qui rattachent les concepts d’attitude par rapport au risque à l’analyse axiomatique.
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  8. A Core Ontology for Economic Exchanges.Daniele Porello, Giancarlo Guizzardi, Tiago Prince Sales & Glenda C. M. Amaral - 2020 - In Gillian Dobbie, Ulrich Frank, Gerti Kappel, Stephen W. Liddle & Heinrich C. Mayr (eds.), Conceptual Modeling - 39th International Conference, {ER} 2020, Vienna, Austria, November 3-6, 2020, Proceedings. Lecture Notes in Computer Science 12400. pp. 364-374.
    In recent years, there has been an increasing interest in the development of well-founded conceptual models for Service Management, Accounting Information Systems and Financial Reporting. Economic ex- changes are a central notion in these areas and they occupy a prominent position in frameworks such as the Resource-Event Action (REA) ISO Standard, service core ontologies (e.g., UFO-S) as well as financial stan- dards (e.g. OMG’s Financial Industry Business Ontology - FIBO). We present a core ontology for economic exchanges inspired by a (...)
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  9. Sources of Transitivity.Daniel Muñoz - forthcoming - Economics and Philosophy:1-22.
    Why should be ‘better than’ be transitive? The leading answer in ethics is that values do not change with context. But this cannot be the entire source of transitivity, I argue, since transitivity can fail even if values never change, so long as they are complex, with multiple dimensions combined non-additively. I conclude by exploring a new hypothesis: that all alleged cases of nontransitive betterness, such as Parfit’s Repugnant Conclusion, can and should be modeled as the result of complexity, not (...)
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  10. Justice for Millionaires?James Christensen, Tom Parr & David Axelsen - forthcoming - Economics and Philosophy.
    In recent years, much public attention has been devoted to the existence of pay discrepancies between men and women at the upper end of the income scale. For example, there has been considerable discussion of the ‘Hollywood gender pay gap’. We can refer to such discrepancies as cases of millionaire inequality. These cases generate conflicting intuitions. On the one hand, the unequal remuneration involved looks like a troubling case of gender injustice. On the other, it’s natural to feel uneasy when (...)
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  11. Fare l'Europa attraverso l'Europa: Geosofia dei popoli europei per una geopolitica multipolare.Lorenzo Maria Pacini - 2022 - Rivista EVROPA 1 (1):22.
    Questa pubblicazione intende fornire uno sguardo sulla situazione dell’Europa, intesa come continente fatto di diverse entità politiche, etniche e culturali, in relazione alla geopolitica mondiale che sta cambiando la propria impostazione, diventando sempre più multipolare. L’approccio offerto dalla geosofia, affiancata alla noologia, permette di comprendere con quale fondamento etnosociologico ed identitario i diversi popoli possano prendere parte alla nuova configurazione del mondo multipolare, superando l’ideologia globalista e riconquistando il valore delle proprie identità.
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  12. A Dilemma for Reasons Additivity.Geoff Keeling - forthcoming - Economics and Philosophy:1-23.
    This paper presents a dilemma for the additive model of reasons. Either the model accommodates disjunctive cases in which one ought to perform some act \phi just in case at least one of two factors obtains, or it accommodates conjunctive cases in which one ought to \phi just in case both of two factors obtains. The dilemma also arises in a revised additive model that accommodates imprecisely weighted reasons. There exist disjunctive and conjunctive cases. Hence the additive model is extensionally (...)
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  13. Eliminating Group Agency.Lars J. K. Moen - forthcoming - Economics and Philosophy:1-24.
    Aggregating individuals’ consistent attitudes might produce inconsistent collective attitudes. Some groups therefore need the capacity to form attitudes that are irreducible to those of their members. Such groups, group-agent realists argue, are agents in control of their own attitude formation. In this paper, however, I show how group-agent realism overlooks the important fact that groups consist of strategically interacting agents. Only by eliminating group agency from our social explanations can we see how individuals vote strategically to gain control of their (...)
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  14. Social Entrepreneurship and Social Innovation in Aging.Jorge Felix & Andrzej Klimczuk - 2021 - In Danan Gu & Matthew E. Dupre (eds.), Encyclopedia of Gerontology and Population Aging. Cham: Springer Verlag. pp. 4558–4565.
    Social entrepreneurship is usually understood as an economic activity which focuses at social values, goals, and investments that generates surpluses for social entrepreneurs as individuals, groups, and startups who are working for the benefit of communities, instead of strictly focusing mainly at the financial profit, economic values, and the benefit generated for shareholders or owners. Social entrepreneurship combines the production of goods, services, and knowledge in order to achieve both social and economic goals and allow for solidarity building. From a (...)
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  15. Does Utilitarianism Need a Rethink? Review of Louis Narens and Brian Skyrms' The Pursuit of Happiness.Heather Browning & Walter Veit - forthcoming - Tandf: Journal of Economic Methodology:1-5.
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  16. The Collaborative Economy in Action: Context and Outline of Country Reports.Andrzej Klimczuk, Vida Česnuitytė & Gabriela Avram - 2021 - In Andrzej Klimczuk, Vida Česnuitytė & Gabriela Avram (eds.), The Collaborative Economy in Action: European Perspectives. Limerick: University of Limerick. pp. 6–21.
    The term collaborative economy itself is relatively new, and according to the European Commission, the term is used interchangeably with the term sharing economy. The term SE was frequently used when early models, such as Airbnb or ZipCar, appeared and gained popularity, especially in the United States, but it was afterwards substituted with the term CE in the European contexts. The country reports in this collection often use the two terms interchangeably, further illustrating the fact that a generally agreed definition (...)
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  17. The Collaborative Economy in Action: European Perspectives.Andrzej Klimczuk, Vida Česnuityte & Gabriela Avram (eds.) - 2021 - Limerick: University of Limerick.
    The book titled The Collaborative Economy in Action: European Perspectives is one of the important outcomes of the COST Action CA16121, From Sharing to Caring: Examining the Socio-Technical Aspects of the Collaborative Economy that was active between March 2017 and September 2021. The Action was funded by the European Cooperation in Science and Technology - COST. The main objective of the COST Action Sharing and Caring is the development of a European network of researchers and practitioners interested in investigating the (...)
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  18. Bolívar Echeverría y el concepto de 'abudancia'.Yankel Peralta García & Yankel Peralta García - 2020 - Revista de Ciencias Sociales 1 (42):94-104.
    This paper discusses Bolivar Echeverria’s concept of «abundance» in the specific sense of “surplus”. The criticism that we formulate is based on the Marxist conceptual affinity between “surplus” and “surplus-product”, understanding the latter as objectification of “surplus-labour”. In Marxist terms “surplus-labour” stands for a workday segment under conditions of exploitation. According to this, we believe that the echeverrian concept of “abundance” fails in its attempt to rise above the productivist and capitalist frame of thought.
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  19. La normativité en science économique. Une perspective pratique, historique et philosophique.Louis Larue & Thomas Mueller - 2018 - Revue Philosophique De Louvain 116 (2):147-150.
    Introduction au Numéro spécial de la Revue Philosophique de Louvain.
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  20. Institutions and Their Strength.Frank Hindriks - forthcoming - Economics and Philosophy:1-18.
    Institutions can be strong or weak. But what does this mean? Equilibrium theories equate institutions with behavioural regularities. In contrast, rule theories explicate them in terms of a standard that people are supposed to meet. I propose that, when an institution is weak, a discrepancy exists between the regularity and the standard or rule. To capture this discrepancy, I present a hybrid theory, the Rules-and-Equilibria Theory. According to this theory, institutions are rule-governed behavioural regularities. The Rules-and-Equilibria Theory provides the basis (...)
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  21. The Economics and Philosophy of Risk.H. Orri Stefansson - 2021 - In Conrad Heilmann & Julian Reiss (eds.), The Routledge Handbook of the Philosophy of Economics. Routledge.
    Neoclassical economists use expected utility theory to explain, predict, and prescribe choices under risk, that is, choices where the decision-maker knows---or at least deems suitable to act as if she knew---the relevant probabilities. Expected utility theory has been subject to both empirical and conceptual criticism. This chapter reviews expected utility theory and the main criticism it has faced. It ends with a brief discussion of subjective expected utility theory, which is the theory neoclassical economists use to explain, predict, and prescribe (...)
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  22. Life as a Trust Game. A Comment on The Option Value of Life.Grégory Ponthière - forthcoming - Economics and Philosophy.
    According to Burri (2020), a major reason why suicide is often irrational lies in the option value of life. Remaining alive is valuable because this allows for a larger menu of options, and the possibility of committing suicide in the future adds further value to the act of remaining alive now. In this note, I represent life as a trust game played by two selves – the young self and the old self – and I argue that the possibility to (...)
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  23. Mercado y valores humanos.José Ramón Fabelo Corzo - 2004 - In Luis R. López Bombino (ed.), Por una nueva ética. La Habana, Cuba: pp. 345-362.
    La experiencia histórica confirma la necesaria presencia de relaciones mercantiles en cualquier proyecto socialista diseñado hoy con un mínimo de realismo. Parece ya evidente que no es la mera exclusión o inclusión del mercado lo que distingue al socialismo y al capitalismo. Mas el alto consenso actual que el mercado ha logrado a su favor, no mitiga las importantes secuelas negativas que este origina cuando es dejado a su funcionamiento espontáneo. De ahí que todos los modelos socialistas que se discuten (...)
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  24. A Restatement of Expected Comparative Utility Theory: A New Theory of Rational Choice Under Risk.David Robert - 2021 - Philosophical Forum 52 (3):221-243.
    In this paper, I argue for a new normative theory of rational choice under risk, namely expected comparative utility (ECU) theory. I first show that for any choice option, a, and for any state of the world, G, the measure of the choiceworthiness of a in G is the comparative utility (CU) of a in G—that is, the difference in utility, in G, between a and whichever alternative to a carries the greatest utility in G. On the basis of this (...)
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  25. Tassare l’Anidride Carbonica Per Ridurre il Cuneo Fiscale: Una Proposta Per la Sinistra Europea.Fausto Corvino - 2021 - Economia E Politica:1-5.
    Molti esperti concordano sul fatto che la pandemia di Covid-19 sia l'occasione giusta per iniziare a tassare l’anidride carbonica, ora che la domanda e quindi anche il prezzo dei combustibili fossili sono scesi. Tuttavia, la carbon tax continua ad essere vista con sospetto, soprattutto tra i progressisti, che temono che questa misura abbia effetti regressivi. Allo stesso tempo, i sostenitori di una carbon tax a entrate positive, che finanzi investimenti in progetti ecologici, rischiano di allarmare eccessivamente l’elettorato conservatore. In questo (...)
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  26. Enough Is Too Much: The Excessiveness Objection to Sufficientarianism.Carl Knight - forthcoming - Economics and Philosophy.
    The standard version of sufficientarianism maintains that providing people with enough, or as close to enough as is possible, is lexically prior to other distributive goals. This article argues that this is excessive - more than distributive justice allows - in four distinct ways. These concern the magnitude of advantage, the number of beneficiaries, responsibility and desert, and above-threshold distribution. Sufficientarians can respond by accepting that providing enough unconditionally is more than distributive justice allows, instead balancing sufficiency against other considerations.
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  27. Probability and Arguments: Keynes’s Legacy.William Peden - 2021 - Cambridge Journal of Economics 45 (5):933–950.
    John Maynard Keynes’s A Treatise on Probability is the seminal text for the logical interpretation of probability. According to his analysis, probabilities are evidential relations between a hypothesis and some evidence, just like the relations of deductive logic. While some philosophers had suggested similar ideas prior to Keynes, it was not until his Treatise that the logical interpretation of probability was advocated in a clear, systematic and rigorous way. I trace Keynes’s influence in the philosophy of probability through a heterogeneous (...)
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  28. A Truly Invisible Hand: The Critical Value of Foucauldian Irony.Carlos Palacios - 2021 - Critical Times 4 (1):48-72.
    Critical theory has long resisted the notion that an “invisible hand” can operate within the real social dynamics of a free market. But despite the most radical desires of the socially critical imagination, the optimization of that “spontaneous order” or depersonalized way of ordering things known as “the economy” has become the dominant playing field and decisive electoral issue of modern politics. Within this broad contemporary context, Michel Foucault made a strange theoretical intervention that, to this day, continues to baffle (...)
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  29. A Dilemma for Lexical and Archimedean Views in Population Axiology.Elliott Thornley - forthcoming - Economics and Philosophy.
    According to lexical views in population axiology, there are good lives x and y such that some number of lives equally good as x is not worse than any number of lives equally good as y. Such views can avoid the Repugnant Conclusion without violating Transitivity or Separability, but they imply a dilemma: either some good life is better than any number of slightly worse lives, or else the ‘at least as good as’ relation on populations is radically incomplete, in (...)
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  30. Sweatshops, Harm and Exploitation: A Proposal to Operationalise the Model of Structural Injustice.Fausto Corvino - 2020 - Conatus 5 (2):9-23.
    In this article, I firstly discuss the person-affecting view of harm, distinguishing between the liability and the structural models of responsibility, and also explaining why it is unsatisfactory, from a moral point of view, to interpret a given harm as a loss with respect to a diachronic baseline. Then, I take sweatshops as an example and I entertain two further issues that are related to the assessment of harm and that are necessary for operationalising a comprehensive model of responsibility, that (...)
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  31. Lifting Lockdown – a Tragedy of the Commons.Fausto Corvino - 2020 - openDemocracy.
    The lifting of lockdown is a typical case of the tragedy of the commons, and as such should be regulated by public authority, instead of being left to the ethics and responsibility of single individuals. I would therefore argue that we should think about an intermediate phase between the lockdown and the opening of shops (which in the Italian case is the transition from the red zone to the orange zone): diversified access to commercial activities, on an hourly basis, for (...)
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  32. Ecological Management: A Research Agenda: Guest Editorial.Vincent Blok - 2021 - Philosophy of Management 20 (1):1-4.
    This editorial sketches the relevancy and urgency of philosophical reflection on issues in ecological management. It subsequently provides a research agenda for future research on ecological management in the field of philosophy of management. Finally, it introduces the three articles that are part of this special issue.
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  33. Civilizational Structure of Regional Integration Organizations.Sergii Sardak & Y. Prysiazhniuk S. Sardak, S. Radziyevska - 2019 - Przegląd Strategiczny 12:59-79.
    The paper advances a new comprehensive complex approach to the investigation of the civilizational aspects in the development of regional associations of countries. The research starts with the overview of historical dimensions of the civilizational approach and the contribution of the founding scholars to its development. It continues with the analysis of the scientific and methodological input of the followers and the critics of this approach. The authors suggest their theoretical approach to the identification of the modern local civilizations according (...)
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  34. The Power-Ownership as a Remedy From the Owner’s Power / ВЛАСТЬ-СОБСТВЕННОСТЬ КАК СРЕДСТВО ОТ ВЛАСТИ СОБСТВЕННИКОВ.Pavel Simashenkov - 2018 - Concept 9:236-244.
    The article analyzes the phenomenon of ownership in its legal, economic, political and philosophical perspectives. Ownership is considered as an opportunity and as a guarantee of sustainable development. Comparative context is used to identify the specificity of the bourgeois model of owners’ power (social state) and the domestic concept of power-ownership (including socialist state). The author draws conclusions about ways to overcome the competition between the state and the market for the human resource and proposes to explore the ideological provision (...)
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  35. The Revolution of the Perfect Product: Working for Future Generations with Unlimited Productivity and the Impact It Will Have on Modern Society.Kai Jiang - 2021 - International Journal of Humanities and Social Sciences 11 (1):17-26.
    The economy is based on the prevailing legal system; however, the economy could go into a tailspin if the laws lose their impartiality. A perfect worker creates infinite high value with limited cost, and the result is a perfect product, usually eternal knowledge. However, free access to their products discourages workers, causing a substantial deviation from optimal resource allocation, and thereby making the supply of perfect products seriously inadequate. This significantly hurts the interests of future society. To maximize the overall (...)
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  36. The Allais Paradox: What It Became, What It Really Was, What It Now Suggests to Us.Philippe Mongin - 2019 - Economics and Philosophy 35 (3):423-459.
    Whereas many others have scrutinized the Allais paradox from a theoretical angle, we study the paradox from an historical perspective and link our findings to a suggestion as to how decision theory could make use of it today. We emphasize that Allais proposed the paradox as a normative argument, concerned with ‘the rational man’ and not the ‘real man’, to use his words. Moreover, and more subtly, we argue that Allais had an unusual sense of the normative, being concerned not (...)
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  37. Towards an Ontological Modelling of Preference Relations.Daniele Porello & Giancarlo Guizzardi - 2018 - In C. Ghidini, B. Magnini, A. Passerini & P. Traverso (eds.), AI*IA 2018 - Advances in Artificial Intelligence - XVIIth International Conference of the Italian Association for Artificial Intelligence, Trento, Italy, November 20-23, 2018, Proceedings. pp. 152--165.
    Preference relations are intensively studied in Economics, but they are also approached in AI, Knowledge Representation, and Conceptual Modelling, as they provide a key concept in a variety of domains of application. In this paper, we propose an ontological foundation of preference relations to formalise their essential aspects across domains. Firstly, we shall discuss what is the ontological status of the relata of a preference relation. Secondly, we investigate the place of preference relations within a rich taxonomy of relations (e.g. (...)
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  38. Politics Versus Economics Philosophical Reflections on the Nature of Corporate Governance.Vincent Blok - 2020 - Philosophy of Management 19 (1):69-87.
    In this article, we philosophically reflect on the nature of corporate governance. We raise the question whether control is still a feasible ideal of corporate governance and reflect on the implications of the epistemic insufficiency of economic institutions with regard to grand challenges like of global warming for our conceptualization of corporate governance. We first introduce the concept of corporate governance from the perspective of economics and politics. We then trace the genealogy of the concept of governance based on a (...)
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  39. Underdetermination in Economics: The Duhem-Quine Thesis.K. R. Sawyer, Howard Sankey & Clive Beed - 1997 - Economics and Philosophy 13 (1):1-23.
    This paper considers the relevance of the Duhem-Quine thesis in economics. In the introductory discussion which follows, the meaning of the thesis and a brief history of its development are detailed. The purpose of the paper is to discuss the effects of the thesis in four specific and diverse theories in economics, and to illustrate the dependence of testing the theories on a set of auxiliary hypotheses. A general taxonomy of auxiliary hypotheses is provided to demonstrate the confounding of auxiliary (...)
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  40. The Non-Identity Problem and the Ethics of Future People, David Boonin. [REVIEW]Silvia Milano - 2016 - Economics and Philosophy 32:353-381.
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  41. Can Economics Can Be a Separate Science?Lukas Beck - 2017 - Rerum Causae 9 (2):17-36.
    Mill (1872, 1874) is an early proponent of the thesis that economics has a special domain in which it can operate relatively independently of findings from other sciences. Contra Mill, I argue that this so-called separateness-thesis is best defendedunder an externalist interpretation of Rational Choice Theory (RCT). Mill’s defence is consistent with an internalist interpretation of RCT. Internalism holds that RCT depicts psychological mechanisms operating in economic agents. I argue that such a defence fails to establish separateness, because it makes (...)
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  42. The SAGE Handbook of the Philosophy of Social Sciences, Edited by Ian Jarvie and Jesús Zamora-Bonilla. SAGE Publications, 2011, Xvii + 749 Pages. [REVIEW]Brian Epstein - 2012 - Economics and Philosophy 28 (3):428-435.
    Book Reviews Brian Epstein, Economics and Philosophy, FirstView Article.
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  43. Information Asymmetries and the Paradox of Sustainable Business Models: Toward an Integrated Theory of Sustainable Entrepreneurship.V. Blok - unknown
    In this conceptual paper, the traditional conceptualization of sustainable entrepreneurship is challenged because of a fundamental tension between processes involved in sustainable development and processes involved in entrepreneurship: the concept of sustainable business models contains a paradox, because sustainability involves the reduction of information asymmetries, whereas entrepreneurship involves enhanced and secured levels of information asymmetries. We therefore propose a new and integrated theory of sustainable entrepreneurship that overcomes this paradox. The basic argument is that environmental problems have to be conceptualized (...)
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  44. Countable Additivity, Idealization, and Conceptual Realism.Yang Liu - 2020 - Economics and Philosophy 36 (1):127-147.
    This paper addresses the issue of finite versus countable additivity in Bayesian probability and decision theory -- in particular, Savage's theory of subjective expected utility and personal probability. I show that Savage's reason for not requiring countable additivity in his theory is inconclusive. The assessment leads to an analysis of various highly idealised assumptions commonly adopted in Bayesian theory, where I argue that a healthy dose of, what I call, conceptual realism is often helpful in understanding the interpretational value of (...)
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  45. Levinas, Simmel, and the Ethical Significance of Money.Christopher Buckman - 2019 - Religions 3 (10).
    An examination of Emmanuel Levinas’ writings on money reveals his distance from—and indebtedness to—a philosophical predecessor, Georg Simmel. Levinas and Simmel share a phenomenological approach to analyses of the proximity of the stranger, the importance of the face, and the interruption of the dyadic relationship by the third. Money is closely linked to the conception of totality because money is the medium that compares heterogeneous values. Levinas goes beyond Simmel in positing an ethical relation to money permitting transcendence.
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  46. Sweatshops and Consumer Choices.Benjamin Ferguson & Florian Ostmann - 2018 - Economics and Philosophy 34 (3):295-315.
    We consider a case where consumers are faced with a choice between sweatshop-produced clothing and identical clothing produced in high-income countries. We argue that it is morally better for consumers to purchase clothing produced in sweatshops and then to compensate sweatshop workers for the difference between their actual wage and a fair wage than it is for them either to purchase the sweatshop clothing without this compensatory transfer or to purchase clothing produced in high-income countries.
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  47. The World as a Garden: A Philosophical Analysis of Natural Capital in Economics.C. Tyler DesRoches - 2015 - Erasmus Journal for Philosophy and Economics 8 (2):121.
    This dissertation undertakes a philosophical analysis of “natural capital” and argues that this concept has prompted economists to view nature in a radically novel manner. Formerly, economists referred to nature and natural products as a collection of inert materials to be drawn upon in isolation and then rearranged by human agents to produce commodities. More recently, however, nature is depicted as a collection of active, modifiable, and economically valuable processes, often construed as ecosystems that produce marketable goods and services gratis. (...)
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  48. Team Reasoning and a Measure of Mutual Advantage in Games.Jurgis Karpus & Mantas Radzvilas - 0201 - Economics and Philosophy 34 (1):1-30.
    The game theoretic notion of best-response reasoning is sometimes criticized when its application produces multiple solutions of games, some of which seem less compelling than others. The recent development of the theory of team reasoning addresses this by suggesting that interacting players in games may sometimes reason as members of a team – a group of individuals who act together in the attainment of some common goal. A number of properties have been suggested for team-reasoning decision-makers’ goals to satisfy, but (...)
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  49. ¿Cómo mide el riesgo el observador imparcial?Antonio J. Heras & David Teira - 2015 - Critica 47 (139):47-65.
    Exploramos aquí la conexión entre los conceptos de riesgo e igualdad en el argumento del observador imparcial. La concepción de la justicia que elegiría un observador imparcial se justifica por la pureza del procedimiento de elección. Sin embargo, si modelizamos esta decisión utilizando medidas del riesgo habituales en matemática financiera, veremos cómo el criterio de elección del observador bajo el velo de la ignorancia contiene una preferencia implícita por el grado de desigualdad resultante. Esto nos obliga a reconsiderar la pureza (...)
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  50. The Narrowed Domain of Disagreement for Well-Being Policy.Gil Hersch - 2018 - Public Affairs Quarterly 32 (1):1-19.
    in recent years, policy makers have shown increasing interest in implementing policies aimed at promoting individual well-being. But how should policy makers choose their well-being policies? a seemingly reasonable first step is to settle on an agreed-upon definition of well-being. yet there currently is significant disagreement on how well-being ought to be characterized, and agreement on the correct view of well-being does not appear to be forthcoming. Nevertheless, i argue in this paper that there are several reasons to think that (...)
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