Religious identity in the workplace: A systematic review,research agenda,and practical implications

We conducted a systematic review of relevant literature to address how religious and occupational identities relate to each other in the workplace. We identified 53 relevant publications for analysis and synthesis. Studies addressed value differences associated with religion and occupation, identity tensions, unmet expectations, and the connection of religious identity to well-being and work outcomes. Key variables in the connection between religious and occupational identities included personal preferences, the fit between religious identity and job-related concerns, and the organization's policies, practices, and expectations. We highlight the personal and organizational consequences of being able to express religious identity at work and the conditions that promote high congruence between religious identity and its expression in the workplace. From these findings, we develop a research agenda and offer recommendations for management practice that focus on support for expression of religious identity at work while maintaining a broader climate of inclusion.     

The Borda class: An axiomatic study of the Borda rule on top-truncated preferences

The Borda rule, originally defined on profiles of individual preferences modelled as linear orders over the set of alternatives, is one of the most important voting rules. But voting rules often need to be used on preferences of a different format as well, such as top-truncated orders, where agents rank just their most preferred alternatives. What is the right generalisation of the Borda rule to such richer models of preference? Several suggestions have been made in the literature, typically considering specific contexts where the rule is to be applied. In this work, taking an axiomatic perspective, we conduct a principled analysis of the different options for defining the Borda rule on top-truncated preferences.     

Habit formation and wage determination

We analyse the implications of habit formation relating to wages in a multiperiod efficiency‐wage model. If employees have such preferences, their existence provides firms with incentives to raise wages and reduce employment over time. Greater intensity does not necessarily have the same consequences, because wage adjustments counteract the initial level impact. The firm's response additionally depends on the wage dependency of dismissal costs, because such costs make an increasing wage profile over time more attractive and mitigate the effects of greater intensity of habit formation. We further show that short‐lived productivity shocks have long‐lasting wage and employment consequences. Moreover, habit concerns by firm owners reduce wages.     

The impact of access to consumer data on the competitive effects of horizontal mergers and exclusive dealing

We examine the influence of firms’ ability to employ individualized pricing on the welfare consequences of horizontal mergers. In a two‐to‐one merger, the merger reduces consumer surplus more when firms can price discriminate based on individual preferences compared to when they cannot. However, the opposite holds true in a three‐to‐two merger, in which the reduction in consumer surplus is substantially lower with individualized pricing than with uniform pricing. Further, the merger requires an even smaller marginal cost reduction to justify when an upstream data provider can make exclusive offers for its data to downstream firms. We also show that exclusive contracts for consumer data pose significant antitrust concerns independent of merger considerations. Implications for vertical integration and data mergers are drawn.     

Dynamic theory of preferences: Habit formation and taste for variety

We analyze individual preferences over infinite horizon consumption choices. Our axioms provide the foundation for a recursive representation of the utility function that contains as particular cases the classical Koopmans representation (Koopmans (1960)) as well as the habit formation specification.We examine some of the consequences of our axiomatization by considering a standard consumer choice problem, and show that typically in the space of concave utility functions satisfying our axioms the consumer displays a taste for variety. The latter means that such a consumer selects optimally time variant consumption programs for any given time invariant sequence of commodities’ relative prices and for all possible sequences of market discount factors. In contrast, if a concave utility function satisfies Koopmans’ axioms the consumer does not display a taste for variety.     

Social Security and the Retirement and Savings Behavior of Low Income Households

In this paper, we develop and estimate a model of retirement and savings incorporating limited borrowing, stochastic wage offers, health status and survival, social security benefits, Medicare and employer-provided health insurance coverage, and intentional bequests. The model is estimated on a sample of relatively poor households from the first three waves of the Health and Retirement Study (HRS), for whom we would expect social security income to be of particular importance. The estimated model is used to simulate the responses to changes in social security rules, including changes in benefit levels, in the payroll tax, in the social security earnings tax and in early and normal retirement ages. Welfare and budget consequences are estimated.     

Social decision for a measure society

Preference aggregation is here investigated for a society defined as a measure space of individuals and called a measure society. Individual preferences are represented through continuous vnm utilities. It is shown that aggregating preferences in an utilitarian way for any kind of measure society is possible under adapted Pareto conditions.     

THE ECONOMICS OF CORPORATE SOCIAL RESPONSIBILITY: A FIRM‐LEVEL PERSPECTIVE SURVEY

This paper analyzes the economics of Corporate Social Responsibility (CSR), as a private response to market imperfections in order to satisfy social preferences. Depending on whether they affect regulation, competition or contracts, market imperfections driving CSR decisions are classified in three categories: public goods and bads and altruism; imperfect competition; and incomplete contracts. We successively present these drivers of CSR decisions and highlight the nature of incentives (external or internal) at work and the testable (and tested) hypotheses in the reviewed studies. We finally review the link between CSR and financial performance, as well as between CSR and social and environmental performance. A twofold discrepancy appears in the literature, opening future research paths: a disconnection between our understanding of CSR drivers and CSR impacts; and a knowledge gap between CSR financial and social consequences, the latter having received little attention.     

Extending the SAM with Social and Environmental Indicators: An Application to Bolivia

Extending economic accounts with sets of social and environmental indicators is a first step towards a more integrated analysis of aspects of sustainability problems. In this article, therefore, a proposal is made to nest social and environmental indicators into an existing economic accounting framework. The Social Accounting Matrix (SAM) is taken as a basis, because of its flexibility regarding extensions with non-monetary data addressing social and environmental concerns. The main thrust of the paper is methodological. From the discussion of methodological issues and the application to the SAM for Bolivia for the year 1989, it is concluded that it is, in principle, feasible and relatively simple to extend the SAM with the two sets of indicators. However, additional data will have to be collected to be able to address, more adequately, the problems of sustainability.     

On the Economics of Moral Preferences

Abstract . The long‐standing critique of the “economic model of man” has gained new impetus, not least due to the broadening research in behavioral and experimental economics. Many of the critics have focused on the apparent difficulty of traditional rational choice theory to account for the role of moral or ethical concerns in human conduct, and a number of authors have suggested modifications in the standard model in response to such critique. This article takes issue with a quite commonly adopted “revisionist” strategy, namely, seeking to account for moral concerns by including them as additional preferences in an agent's utility function. It is argued that this strategy ignores the critical difference between preferences over outcomes and preferences over actions, and that it fails to recognize that “moral preferences” belong in the second category. Preferences over actions, however, cannot be consistently accounted for within a theoretical framework that focuses on the rationality of single actions. They require a shift of perspective, from a theory of rational choice to a theory of rule‐following behavior.     

New monetarism with endogenous product variety and monopolistic competition

I examine the role played by endogenous variety and monopolistic competition in the long-run transmission of monetary policy. I integrate free entry, product variety and monopolistic competition into a New Monetarist framework, considering preferences that give rise to either constant or variable markups. I find that inflation generally reduces variety. Under CES preferences, firms are inefficiently small, with the inefficiency increasing with product differentiation and the extent of search frictions. The Friedman rule is the best policy under CES preferences. In contrast, with variable elasticity of demand, inflation can increase firm size, reduce markups, and raise welfare, even though output is lower. Under CES preferences, the welfare cost of inflation is high; moreover, this cost increases monotonically with the markup and is higher with endogenous variety than with a fixed product space.     

Designing monetary policy committees

We integrate monetary policy-making by committee into a New Keynesian model to assess the consequences of the committee׳s institutional characteristics for inflation, output, and welfare. Our analysis delivers the following results. First, we demonstrate that transparency about the committee׳s future composition is typically harmful. Second, we show that short terms for central bankers lead to effective inflation stabilization at the expense of comparably high output variability. Third, larger committees generally allow for more efficient stabilization of inflation but possibly for less efficient output stabilization. Fourth, large committees and short terms are therefore socially desirable if the weight on output stabilization in the social loss function is low. Fifth, we show that a central banker with random preferences may be preferable to a central banker who shares the preferences of society.     

INCENTIVES AND SOCIAL NORMS: A MOTIVATION‐BASED ECONOMIC ANALYSIS OF SOCIAL NORMS

Abstract It is now commonplace to regard social norms as a subject of growing interest in the economic literature (e.g. game theoretical approaches based on ‘other‐regarding’ individual preferences, the analysis of the impact of rewards or punishment on individuals’ behaviour through experimental economics as well as field experiments, the revival of the institutionalist tradition spurred on by the influential work of Douglas North and followed by many others and the growing influence of neuroeconomics). In this paper, we focus on the relationship between incentives and social norms and survey the literature that could constitute the foundations of a motivation‐based economic analysis of social norms. Our main findings are that (1) the interaction between incentives and social norms is far from obvious since taking social norms into account involves the introduction of supplementary motives, in addition to self‐interest, into the economic analytical framework; (2) the analysis of the interaction between incentives and social norms resists an approach exclusively in terms of crowding‐in and ‐out effects because it is sensitive to whether it concerns behaviours driven by honour or by social stigma; (3) as a result, it is difficult to precisely evaluate the policy implication of the interactions between incentives and social norms.     

What makes a good conference? Analysing the preferences of labour economists

Conferences are an important element in the work of researchers, requiring substantial investments in fees, travel expenses and the time spent by the participants. The aim of this paper is to identify the preferences of participants with respect to conference characteristics. Based on a sample of European labour economists, preferences are measured using the vignette approach where participants are asked to choose between hypothetical European Association of Labour Economists (EALE) conferences. We find that the keynote speakers are the most important element in the preference for a conference, followed by the location of the conference. There is substantial heterogeneity in the taste of labour economists especially with respect to location, though the link between preference parameters and measured characteristics like gender, age and seniority is limited. Factor analysis suggests that the variety in preferences can be best described by a latent variable that reflects the weights people put on content versus fun.     

Applying LSA text mining technique in envisioning social impacts of emerging technologies: The case of drone technology

This research proposes a novel method of identifying and understanding the holistic overview of emerging technologies’ unintended consequences. Latent Semantic Analysis (LSA) text mining technique is employed to yield multiple groups of contextually similar terms from future-oriented data sources, comprising both experts’ and the public's concerns regarding future technologies. Resulting term clusters are considered as new abstractions, or so-called scenarios, of future social impacts. Furthermore, the study acquires greater depth and breadth in conceptualizing social impacts through considering condition- and value-related terms as key linking factors to previous social impact-related literature. Our proposed methodology seeks to gain insights into the utilization of future-oriented data sources for the foresight activity, hoping to mitigate public skepticism and pursue a better social acceptance of emerging technologies.     

CORPORATE SOCIAL RESPONSIBILITY: A MICROECONOMIC REVIEW OF THE LITERATURE

This paper provides a review of the theoretical and empirical literature on Corporate Social Responsibility (CSR). Depending on whether an individual can be considered as selfish, or whether she has also social preferences, motives for CSR, can be explained in different ways. Furthermore, we explicitly highlight the influence of different Corporate Governance System on CSR as well as the relationship between firms' size and social commitment. Because it is difficult to distinguish between different theories in empirical studies, we argue that an experimental approach might be suitable to test theories of CSR.     

SOCIAL IDENTITY AND REDISTRIBUTIVE PREFERENCES: A SURVEY

Social identity has become accepted as a key concept underpinning the endogeneity of economic behaviour and preferences. It is important in explaining attitudes towards redistribution and pro‐social behaviour. We examine how economic theory measures social identity and its effects on preferences towards redistribution, social solidarity and redistributive institutions. Empirical evidence indicates that social identity carries weight in explaining the presence of social preferences and attitudes towards redistributive institutions.     

Wealth concerns and equilibrium

Most properties of the classical general equilibrium model without externalities fail to extend to the wildest forms of consumption externalities. The recent interest for wealth concerns, a kind of externality associated with herding behavior and other-regarding preferences, motivates a study of the general equilibrium exchange model with those externalities. The diffeomorphism of the equilibrium manifold with a Euclidean space, the smoothness and properness of the natural projection and its non-zero degrees are shown to hold true for endowment spaces with variable total resources. Other properties of the classical exchange model without externalities are fragile in the sense that they do not resist the introduction of wealth concerns even in models where consumers preferences are represented by the simplest forms of utility functions like the log-linear (or Cobb–Douglas) functions. The most notable fragile properties are the uniqueness and regularity of equilibrium at equilibrium allocations and the stability of no-trade equilibria.     

The scope for market segmentation within the charity market: An empirical analysis

Based on the analysis of 384 questionnaires, this paper investigates the scope for market segmentation for a variety of UK charities. The results call into question the idea that donor preferences expressed for a particular type of charity are associated with particular demographic, lifestyle or opinion and attitude segments. The managerial implications of the findings are discussed and suggestions for future research are made.     

Some Basic Issues Related to Contextual Performance and Organizational Citizenship Behavior in Human Resource Management

This article examines some basic issues that might pose conceptual challenges in applying ideas related to contextual performance and organizational citizenship behavior to human resource management. It considers labeling issues and differences between the origins and definitions of the terms, contextual performance, and organizational citizenship behavior, and argues that the labeling issues are less important than careful definition and measurement of the behavioral dimensions that these terms embrace. It also considers the conceptual status of organizational citizenship behavior and contextual performance as latent constructs or aggregate constructs according to distinctions presented by Law, Wong, and Mobley. And finally, it explores questions related to consequences of behavioral patterns connoted by these terms for organizational effectiveness and individual motivation, job satisfaction, and commitment.