This paper investigates the properties of intergenerationally equitable discounting by using an axiomatically well-founded welfare function which was originally developed by Epstein (1983), and more recently extended by Bommier and Zuber (2008). In stead of seeking for the appropriate value of social rate of time preference, intergenerational equity is incorporated at axiomatic level. I show th...

The IMF potentially creates moral hazard when it provides bailouts to countries in a financial crisis. We ask whether a creditor moral hazard is observable in the data. We test the hypothesis that recent unprecedented bailouts – starting with the 1994 Mexican crisis – changed international investors’ perception of default risk on international borrowing. Our events-study approach identifies imp...

The majority of research on emotion and moral decisionmaking has focused on the intrapersonal effects of emotion. However, witnessing and displaying emotional expressions is also known to play a significant role in the facilitation and coordination of our social interactions. In this work, we hypothesize that interpersonal emotions effect moral appraisals by prioritizing different moral concern...

In this paper I put forth three criticisms against McDowell account of the idea that moral requirements are categorical imperatives. I argue that McDowell’s account fails as a defense of Kant’s doctrine for at least three reasons. First, McDowell claims that agents can appeal to experience in order to formulate and recognize categorical imperatives. However, Kant strongly disagrees with this cl...

In light of the current economic crisis, we estimate hazard models of divorce to determine how state and national unemployment rates affect the likelihood of a divorce or separation. With data in the United States over the 1978–2008 period from the 1979 NLSY, we find some evidence indicating that a higher unemployment rate increases the risk of a marriage ending for couples in years 6–10 of mar...

Suppose you are an architect and you have recently completed a challenging project: designing and building a sturdy modern house on a sandy stretch of ground where several previous architects had failed. The shifting ground had cracked their one-piece rigid concrete foundations. You vowed not to repeat their mistakes, so you designed a novel foundational system that avoided the use of concrete ...

To obtain higher yields, farmers may excessively use pesticides when they grow crops (like rice, vegetables, or fruit), causing moral hazard behavior. This paper examines how Chinese farmers’ moral hazard behavior in crop production is influenced by their traditional culture. A semi-parametric logistic model is used to investigate the impact of Chinese traditional culture on farmers’ moral haza...

Actions can be moral or immoral, surely, but can also be prudent or imprudent, rude or polite, sportsmanlike or unsportsmanlike, and so on. The fact that diverse methods of evaluating action exist seems to give rise to a further question: what distinguishes moral evaluation in particular? In this article, my concern is methodological. I argue that any account of the distinctiveness of morality ...