Arbeitspapier
The Morality of Markets. A Comment
Dewatripont and Tirole (2024) defend the morality of markets on the ground of an irrelevance result: the social production of moral actions is independent from competitive pressure on markets. No matter how strong competitive pressure is, markets perform well in diffusing signals about moral values and in coordinating suppliers of moral actions. In this comment, we argue, on the contrary, that markets lead to a double crowding out of moral values: first, imperfect transmission of moral values on markets leads to an underproduction of moral actions despite the presence of highly ethical suppliers; second, competitive pressure on markets favors the eviction of highly ethical suppliers by less ethical suppliers.
- Language
-
Englisch
- Bibliographic citation
-
Series: GLO Discussion Paper ; No. 1433
- Classification
-
Wirtschaft
Firm Behavior: Theory
- Subject
-
competition
markets
morality
crowding out
- Event
-
Geistige Schöpfung
- (who)
-
Ponthiere, Gregory
Stevens, Nicolas
- Event
-
Veröffentlichung
- (who)
-
Global Labor Organization (GLO)
- (where)
-
Essen
- (when)
-
2024
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Ponthiere, Gregory
- Stevens, Nicolas
- Global Labor Organization (GLO)
Time of origin
- 2024
Other Objects (12)
The evolution of morality
Comments on the EU Commission's capital markets union project
Secular morality and the university
Morality and conflict
Democracy, rationality and morality
Tax Morality and Progressive Wage Tax
Incorporating Conditional Morality into Economic Decisions
Of Morals, Markets and Mice: A Comment on Falk and Szech
The voracity effect: Comment
Morality, Altruism, and Occupation Choice: Theory and Evidence
Interpretation of Relations Among Morality, Economics of the Household, and the Health Environment
Generalizing the Taylor principle: Comment
The evolution of morality
Comments on the EU Commission's capital markets union project
Secular morality and the university
Morality and conflict
Democracy, rationality and morality
Tax Morality and Progressive Wage Tax
Incorporating Conditional Morality into Economic Decisions
Of Morals, Markets and Mice: A Comment on Falk and Szech
The voracity effect: Comment
Morality, Altruism, and Occupation Choice: Theory and Evidence
Interpretation of Relations Among Morality, Economics of the Household, and the Health Environment
Generalizing the Taylor principle: Comment
The evolution of morality
Comments on the EU Commission's capital markets union project
Secular morality and the university
Morality and conflict
Democracy, rationality and morality
Tax Morality and Progressive Wage Tax
Incorporating Conditional Morality into Economic Decisions
Of Morals, Markets and Mice: A Comment on Falk and Szech
The voracity effect: Comment
Morality, Altruism, and Occupation Choice: Theory and Evidence
Interpretation of Relations Among Morality, Economics of the Household, and the Health Environment