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  1. How to Have Your Cake and Eat It Too: Resolving the Efficiency- Equity Trade-Off in Minimum Wage Legislation.Nikil Mukerji & Christoph Schumacher - 2008 - Journal of Interdisciplinary Economics 19:315-340.
    Minimum wages are usually assumed to be inefficient as they prevent the full exploitation of mutual gains from trade. Yet advocates of wage regulation policies have repeatedly claimed that this loss in market efficiency can be justified by the pursuit of ethical goals. Policy makers, it is argued, should not focus on efficiency alone. Rather, they should try to find an adequate balance between efficiency and equity targets. This idea is based on a two-worlds-paradigm that sees ethics and economics as (...)
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  2. Is the Minimum Wage Ethically Justifiable? An Order-Ethical Answer.Nikil Mukerji & Christoph Schumacher - 2016 - In Christoph Luetge & Nikil Mukerji (eds.), Order Ethics: An Ethical Framework for the Social Market Economy. Springer. pp. 279-292.
    Is the minimum wage ethically justifiable? In this chapter, we attempt to answer this question from an order-ethical perspective. To this end, we develop two simple game theoretical models for different types of labour markets and derive policy implications from an order-ethical viewpoint. Our investigation yields a twofold conclusion. Firstly, order ethicists should prefer a tax-funded wage subsidy over minimum wages, if they assume that labour markets are perfectly competitive. Secondly, order ethics suggests that the minimum wage can be ethically (...)
     
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  3. Order Ethics, Economics, and Game Theory.Nikil Mukerji & Christoph Schumacher - 2016 - In Christoph Luetge & Nikil Mukerji (eds.), Order Ethics: An Ethical Framework for the Social Market Economy. Springer. pp. 93-108.
    We offer a concise introduction to the methodology of order-ethics and highlight how it connects aspects of economic theory and, in particular, game theory with traditional ethical considerations. The discussion is conducted along the lines of five basic propositions, which are used to characterize the methodological approach of order ethics.
     
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