Preface |
|
ix | |
Acknowledgments |
|
xiv | |
|
1 The Importance of Behavioral Assumptions in Economic Theory |
|
|
1 | (20) |
|
|
1 | (1) |
|
Friedman's Methodology of Positive Economics |
|
|
2 | (6) |
|
An Alternative Interpretation of Friedman's Position on Behavioral Assumptions |
|
|
8 | (4) |
|
A Cost/Benefit Analysis to Incorporating Social Norms |
|
|
12 | (4) |
|
|
16 | (5) |
|
|
|
2 A History of the Firm That Incorporates Social Norms |
|
|
21 | (24) |
|
|
21 | (2) |
|
The Birth of Free-Market Capitalism in Italy and the Netherlands |
|
|
23 | (3) |
|
Free-Market Capitalism Spreads to Britain and the United States |
|
|
26 | (6) |
|
Industrial Revolutions in Britain and the United States |
|
|
32 | (2) |
|
A New Opportunism Culture Emerges |
|
|
34 | (6) |
|
The Opportunism Culture Nearly Takes Down the Financial System |
|
|
40 | (5) |
|
|
45 | (29) |
|
|
45 | (1) |
|
The Founding of the University-Based Business School |
|
|
46 | (7) |
|
The Decay and Abandonment of Professional Norms |
|
|
53 | (3) |
|
The Increasing Influence of Neoclassical Theory and the Chicago School |
|
|
56 | (8) |
|
Insights on the Firm from Adam Smith |
|
|
64 | (5) |
|
Neoclassical Theories of the Firm |
|
|
69 | (5) |
|
4 Social Norm Theory Related to the Firm |
|
|
74 | (31) |
|
|
74 | (1) |
|
The Behavioral Assumptions of Homo Economicus |
|
|
75 | (4) |
|
The Assumptions and Implications of Agency Theory |
|
|
79 | (5) |
|
The Presence of Social Norms in The Wealth of Nations |
|
|
84 | (7) |
|
Social Norm Theory in The Theory of Moral Sentiments |
|
|
91 | (6) |
|
Recent Social Norm Theory Related to the Firm |
|
|
97 | (8) |
|
|
|
5 Formal Models Incorporating Social Norms into the Theory of the Firm |
|
|
105 | (24) |
|
|
105 | (1) |
|
Benefits of Mathematical Modeling |
|
|
106 | (4) |
|
Essential Features of Principal-Agent Theory |
|
|
110 | (5) |
|
Challenges to Modeling Social Norms in Principal-Agent Theory |
|
|
115 | (3) |
|
A Principal-Agent Model with a Promise-Keeping Norm |
|
|
118 | (6) |
|
Other Formal Models Incorporating Social Norms into the Theory of the Firm |
|
|
124 | (5) |
|
6 Emerging Evidence of Social Norms in Experimental Research |
|
|
129 | (32) |
|
|
129 | (1) |
|
Benefits of Experimental Research |
|
|
130 | (4) |
|
The Development of an Experimental Methodology |
|
|
134 | (6) |
|
Findings from Experimental Studies of Neoclassical Market Theory |
|
|
140 | (4) |
|
Findings from Experimental Tests of Game Theory |
|
|
144 | (5) |
|
Findings from Experimental Tests of Principal-Agent Theory |
|
|
149 | (4) |
|
Findings from Experimental Studies of Participative Budgeting |
|
|
153 | (8) |
|
7 Emerging Evidence of Social Norms in Archival Research |
|
|
161 | (25) |
|
|
161 | (1) |
|
Theory, Research Paradigms, and Paradigm Shifts |
|
|
162 | (4) |
|
A Paradigm Shift at the University of Chicago |
|
|
166 | (3) |
|
Anomalies and the New Focus on Market Inefficiency |
|
|
169 | (2) |
|
Findings Regarding Individual Processing and Trading Volume |
|
|
171 | (5) |
|
Findings Regarding the Effects of Financial Incentives |
|
|
176 | (4) |
|
Findings Regarding Culture and Social Norms |
|
|
180 | (6) |
|
8 Conclusion: "Where do we go from here?" |
|
|
186 | (8) |
References |
|
194 | (17) |
Index |
|
211 | |