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.
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 sensitize German society to the dangers of climate change and to motivate it towards more sustainability.
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.
Behavioral Economics and Leadership: How to Bridge the Gap Between Intentions and Behavior
The difference between existing intentions and actual behavior occurs in various forms, such as procrastination or companies not being able to implement planned changes, which may lead to competitive disadvantages in ever dynamic business environments.
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.
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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.
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.
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.
Behavioral Economics and Leadership: How to Bridge the Gap Between Intentions and Behavior
Dominik Enste / Sarah-Nell Altenhöner
The difference between existing intentions and actual behavior occurs in various forms, such as procrastination or companies not being able to implement planned changes, which may lead to competitive disadvantages in ever dynamic business environments.
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