Topic
Shadow (psychology)
About: Shadow (psychology) is a research topic. Over the lifetime, 8396 publications have been published within this topic receiving 117158 citations.
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Book•
28 Jan 2015
TL;DR: In this article, the extent and nature of the shadow economy is discussed and a typology of policy measures is presented. But the authors focus on the variable magnitude of shadow economy and do not address the variable character of shadow economies.
Abstract: Contents: 1. Introduction Part I Extent and nature of the shadow economy 2. The variable magnitude of the shadow economy 3. The variable character of the shadow economy Part II Policy approaches 4. Evaluating the policy options 5. A typology of policy measures Part III Direct controls 6. Deterrence measures 7. Supply-side incentives for businesses 8. Supply-side incentives for individuals 9. Demand-side incentives Part IV Indirect controls 10. Commitment measures 11. Broader economic and social policies 12. Conclusions References Index
55 citations
TL;DR: The first major work in what is recognized to be institutional economics, Thorstein Veblen's Theory of the Leisure Class, lends itself readily to a useful analysis of the consumption process, something of which contemporary marketing science is only too well aware as mentioned in this paper.
Abstract: Conventional economics has given major attention to the production process. Consumption has been given a rather minor position in the classic perception of the economy. The institutional interpretation of the economy has given consumption greater significance. As a matter of fact the first major work in what is recognized to be institutional economics, Thorstein Veblen’s Theory of the Leisure Class lends itself readily to a useful analysis of the consumption process, something of which contemporary marketing science is only too well aware. The shadow of Jeremy Bentham hangs heavily over all of this traditional consumption theory, even that of classical economics, if we mean by the statement the spirit as well as the disembodied formal ideas. The utilitarian interpretation of human consumption behavior as a quest to maximize pleasant feelings and minimize the unpleasant has been construed as rational behavior in contemporary economic theory.
55 citations
Book•
31 Mar 2017
TL;DR: In this article, the Foundations of Finance-Led Capitalism is revisited - A Meso-economic Approach 5. Shadow Banking as Network Finance 6. The International Monetary System in Flux 7. Re-Regulation Challenges 8. The New Face of Finance
Abstract: 1. From Sub-Primes to Global Meltdown 2. Long Waves, Structural Crises, and Credit-Money 3. The Foundations of Finance-Led Capitalism 4. Financialization Revisited - A Meso-Economic Approach 5. Shadow Banking as Network Finance 6. The International Monetary System in Flux 7. Re-Regulation Challenges 8. The New Face of Finance
55 citations
TL;DR: In this paper, the authors consider a more complex environment comprising different games which studied in isolation -and yield opposite implications, showing that persistent divergence between intrinsic motivation and true material success is possible depending on the definition of inequality aversion as well as on agents' ability to discriminate between games.
Abstract: The indirect evolutionary approach integrates forward-looking evaluation of opportunities and adaptation in the light of the past. Subjective motivation determines behaviour, but long-run evolutionary success of motivational types depends on objective factors only. This can justify intrinsic aversion to inequality in reward allocation games. Whereas earlier analysis was restricted to specific games, this article considers a more complex environment comprising different games which studied in isolation - yield opposite implications. Persistent divergence between intrinsic motivation and true material success is possible depending on the definition of inequality aversion as well as on agents' ability to discriminate between games. In traditional microeconomic analysis decision alternatives are selected by economic men based on their anticipated consequences, using preferences which are fixed and given. Other social analysis and evolutionary biology, in contrast, focus on the shadow of the past. Propensities to act in this or that way are explained by the social or biological environment and the past success of possible strategies (mutants) in it. Studying the evolution of preferences offers the chance to combine forward-looking deliberation (the shadow of the future) and path dependence (the shadow of the past). What evolves is not behaviour itself, as typically assumed in evolutionary biology and (direct) evolutionary game theory, but its determinants.1 Preferences of economic agents have many degrees of freedom in neoclassical decision theory. They need not - though this is often regarded as economic behaviour per se - be egoistic and purely materialistic. This option has frequently been exercised in the context of surplus division (Bolton, 1991; Rabin, 1993; Kirchsteiger, 1994; Fehr and Schmidt, 1999; Bolton and Ockenfels, 1999, 2000), in particular to explain rejection of unfair offers and equitable proposals in ultimatum experiments. Rationalisation of experimental observations is generally possible ex post by positing suitable preferences. However, fitting utility functions with empirical results is rather ad hoc and, at least as far as the common knowledge of such idiosyncratic preferences is concerned, quite questionable. To be more than merely neoclassical repairs of a priori assumptions about behaviour, they should be robust in an empirical and a theoretical sense. First, they should explain more than one particular set of observations; see the systematic attempts by Bolton and Ockenfels (2000) and Fehr and Schmidt (1999). Second, they should not be in contradiction with the physical necessity (and observable tendency) to strive and compete for material rewards in a world of scarce resources. If agents exhibit non-opportunistic preferences, this, if sustainable, should not imply a significant and persistent disadvantage.
55 citations