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Behavioral Economics and Business Ethics

Behavioral economics shows that people act more morally than the homo economicus model suggests. People are more trustworthy and behave more fairly than many people think. Nevertheless, morality regularly comes into conflict with economic interests, but these conflicts can often be resolved with the help of business ethics.

About the topic

Entrepreneurial profit-seeking and the legitimate interests of society are not always in harmony. However, the conflicts can often be overcome in a constructive way, for example by the state intervening in a regulatory manner (regulatory ethics), by companies assuming responsibility (business ethics) and investing in trust. Or by individuals behaving more morally (individual morality). Typical topics of business ethics are: In the social market economy, the state sets the framework, e.g., for consumer protection, supply chains, and environmental protection; companies maintain their own compliance and corporate social responsibility departments. Individuals volunteer in a variety of ways in society - keyword civic engagement and strengthen social capital. Together, these ways ensure greater prosperity, growth and life satisfaction. Behavioral economics has shown in experiments, among other things, that immoral behavior such as corruption, moonlighting and white-collar crime is a form of corruption.

German Economic Institute (IW) German Economic Institute (IW)

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Dominik H. Enste / Jennifer Potthoff IW-Analyse No. 146 30. December 2021

Behavioral Economics and Climate Protection: Better regulation and green nudges for more sustainability

Protecting the climate is one of the greatest challenges our society is currently facing. In view of the heated political and social discussions surrounding this topic, the question naturally arises as to whether behavioral-economic insights can be used to ...

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Tripolar Challenges for the Social Market Economy
Dominik Enste / Hans-Peter Klös IW-Policy Paper No. 27 1. December 2021

Growth, Equity and Sustainability

In the last two decades, a debate has unfolded around the relationship between growth and well-being that has produced numerous new concepts, indicators and sets of targets. This increasingly includes an emphasis on sustainability concepts.

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Understanding conspiracy myths better – Backgrounds and countermeasure
Dominik Enste / Johanna Kary IW-Policy Paper No. 11 29. May 2021

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The analysis deals with the current developments of conspiracy theories at the time of the Corona pandemic.

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4. May 4. May
Dominik Enste Event 4. May 2022

XI. Scientific Conference: The „Great Transformation”: New Rules of the Game?

Already before the Ukrainian War, Transformation seems to be everywhere. Almost 50 times it has been mentioned in the New „Ampel” Coalition Treaty of November 2021.

IW

Read study
Better regulation and green nudges for more sustainability
IW-Analyse No. 146 30. December 2021

Behavioral Economics and Climate Protection: Better regulation and green nudges for more sustainability

Dominik H. Enste / Jennifer Potthoff

Protecting the climate is one of the greatest challenges our society is currently facing. In view of the heated political and social discussions surrounding this topic, the question naturally arises as to whether behavioral-economic insights can be used to sensitize German society to the dangers of climate change and to motivate it towards more sustainability.

IW

Read study
Tripolar Challenges for the Social Market Economy
IW-Policy Paper No. 27 1. December 2021

Growth, Equity and Sustainability

Dominik Enste / Hans-Peter Klös

In the last two decades, a debate has unfolded around the relationship between growth and well-being that has produced numerous new concepts, indicators and sets of targets. This increasingly includes an emphasis on sustainability concepts.

IW

Read study
Understanding conspiracy myths better – Backgrounds and countermeasure
IW-Policy Paper No. 11 29. May 2021

Understanding conspiracy myths better – Backgrounds and countermeasure

Dominik Enste / Johanna Kary

The analysis deals with the current developments of conspiracy theories at the time of the Corona pandemic.

IW

Read study
The Impact of the Corona Pandemic Compared with Earlier Economic Crises
IW-Trends 20. April 2021

The Impact of the Corona Pandemic Compared with Earlier Economic Crises

Hubertus Bardt / Michael Grömling

The current economic crisis has become a crisis of consumption and has taken on more extreme dimensions than that caused by the global financial market upheavals of 2008/2009. In the 15 years preceding the outbreak of the Corona pandemic in Germany, private consumption grew at a rate similar to that in the 1990s.

IW

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