The goal has been to devise a strategy that protects as much as possible the rights and liberties of all agents, both users of fossil fuels and people whose livelihoods and territories are at risk if the anthropogenic global warming hypothesis is true. To achieve this goal the standard climate policy instruments, taxes and emissions trading, should be discontinued. There are weaknesses in the theoretical perspectives used to justify these policy instruments and climate science cannot provide the knowledge that would (...) be needed to justify their implementation. In their place I propose a privatised policy, based on Austrian and libertarian frameworks of thought, which share an interpretation of climate change as a putative interpersonal conflict rather than market failure. The use of fossil fuels, like any other economic activity, should be subject to side-constraints designed to avoid the infringement of other people’s property rights. Tort litigation on the basis of strict liability would protect these rights, insofar as they need protecting. By providing a public arena for the competitive testing of scientific hypotheses concerning climate change, such litigation would also promote the public understanding and even the advancement of climate science. (shrink)

The question I wish to take up in this paper is whether competitive markets, as mechanisms that initiate the distribution of scarce goods, allocate those goods in accordance with what participants in those markets deserve. I want to argue that in general people do not in fact deserve what they get from market interactions, when “what they get” is determined by the competitive forces coming to bear on the market. This more general claim is meant to apply to (...) all participants in the market. However, my strategy here is to focus on the particular case of the role of entrepreneurs, as I will define them, and whether they deserve the profits they reap in a competitive capitalist market. In particular, I will argue that the claim that entrepreneurs deserve their profits, when spelled out precisely, is indeed not plausible. Generalizing from this claim, I want to suggest how moral desert is inappropriate as a justification of market shares whenever competition determines the magnitude of those shares. I should stress, though, the particularity of my central claim: it is that “ entrepreneurs do not deserve their profits.” This is not to say that, for other reasons, people should not receive the rewards doled out by a market. My claim is only that desert has nothing directly to do with it. I am deviating significantly here from the usual strategy for denying the relevance of desert claims to principles of distributive justice. (shrink)

This paper explores the role of ideology in attempts to influence public policy and in business representation in the EU–China solar panel anti-dumping dispute. It exposes the dynamics of international activity by emerging-economy multinationals, in this case from China, and their interactions in a developed-country context. Theoretically, the study also sheds light on the recent notion of ‘liability of origin’, in addition to the traditional concept of ‘liability of foreignness’ explored in international business research, in relation to firms’ (...) market and political strategies and their institutional embeddedness in home and host countries. Through a qualitative analysis of primary and secondary materials and interview data with key protagonists, we provide a detailed evolution of the case, the key actors involved and their positions, arguments and strategies. This illustrates the complexities involved in the interaction between markets and ideologies in the midst of debates regarding different forms of subsidy regimes for renewable energy, free trade versus protectionist tendencies by governments, and the economic and sustainability objectives of firms and societies. The case shows how relative newcomers to the EU market responded to overcome a direct threat to their business and became, with support from their home government, active participants in the public debate through interactions with local commercial partners and non-governmental organisations. Firms adopted relatively sophisticated strategies to reduce their liabilities vis-à-vis host-country institutions and local stakeholders, including collective action, to increase their legitimacy and reputation, and counter ideologically based attacks. We also discuss implications and limitations. (shrink)

This essay proposes a way of dealing with the strict liability of Internet sellers of other manufacturers’ products, such as Amazon under its ‘Fulfillment by Amazon’ program. I discuss and reject two approaches to the problem that have been proposed by the courts, and advance a view according to which the relevant inquiry is whether Internet intermediaries such as Amazon could have prevented a defective product from reaching the US market. This view accounts in a satisfactory manner for (...) the notion of responsibility that is at the core of US strict products liability law, and avoids the pitfalls of alternative policies. However, since this view also entails a de facto quasi-immunity to lawsuits for Internet intermediaries in many cases, safeguards to that quasi-immunity are also addressed. While the essay focuses on US law, the principles and policies under discussion should be applicable in other jurisdictions as well. (shrink)

This paper examines two policy initiatives that research shows can increase opportunities for physical activity and, in turn, improve health outcomes. These initiatives — shared use and Safe Routes to School — can and should be embraced by schools to improve student and community health. Fear of liability, however, has made many schools reluctant to support these efforts despite their proven benefits. This paper addresses school administrators’ real and perceived liability concerns and identifies four strategies for managing the (...) fear of liability and mitigating any potential liability exposure. (shrink)

The Trump Administration has exposed both the durability and vulnerability of the Patient Protection and Affordable Care Act's insurance reforms. One of the Administration's first strikes at “Obamacare” was to discontinue federal government payment of cost-sharing reductions, which insurers pay to low-income enrollees on the exchanges to reduce their out-of-pocket share of medical spending. The states struck back with a clever solution that could hold insurers and enrollees harmless. This article examines this strategy and why, while impressive, it reaffirms (...) larger problems with the ACA's market-based approach to health reform and the need for new pathways forward. (shrink)

Since the introduction of Ethereum in 2015, blockchain technology (BT) has been evolving, and BT has been associated with the concept of the sharing economy by business academics. Despite the marketing research on the sharing economy that has been extensively conducted in the last decade, the linkage between BT and ethical marketing in the sharing economy remains unclear. Through a systematic literature review of 163 articles and a co-citation analysis, this study identifies the key elements of blockchain capabilities, blockchain attributes, (...) and the underlying economic theories of blockchain. It also synthesizes and proposes a shift of ethical marketing logic in the blockchain-based sharing economy that delineates the principles of stakeholder capitalism. The article concludes with a list of future research directions that underline three approaches of stakeholder theory (i.e., the descriptive, instrument, and normative approaches). These directions aim to guide marketing scholars concerning how BT enables an institutionally embedded view of ethical marketing activities and practices that enhance collaborative marketing and subsequently innovate value chains and create sustainable business models in the sharing economy, as well as to the metaverse. (shrink)

The object of this study is the legal framework for the sale or purchase of company shares when the goal of the transaction is the sale of a business. The impact of such transactions on Lithuanian economic development underlines the importance of this study. The recent wave of mergers and acquisitions in Lithuania is likely to substantially increase the number of related legal disputes as well. Legislation on the purchase and sale of company shares and the resulting transfer of business (...) has been enacted in Lithuania only recently. The regulation of such cases remains rather unclear, few cases have been brought to court, and the topic has been barely addressed by legal scholarship in Lithuania to date. It is unclear whether the fact that the real purpose of the transaction is not a simple reassignment of company shares, but business transfer, results in any differences in the interpretation and application of the law. An especially delicate question, raised in Lithuania and other European countries, is whether the buyer may submit a warranty claim to the seller regarding the business acquired. (shrink)

The research on technologies and methodologies for (accurate, real-time, spontaneous, three-dimensional…) facial expression recognition is ongoing and has been fostered in the past decades by advances in classification algorithms like deep learning, which makes them part of the Artificial Intelligence literature. Still, despite its upcoming application to contexts such as human–computer interaction, product and service design, and marketing, only a few literature studies have investigated the willingness of end users to share their facial data with the purpose of detecting (...) emotions. This study investigates the level of awareness and interest of 373 potential consumers towards this technology in the car insurance sector, particularly in the contract drafting phase, with a focus on differentiating the respondents between generation Y and Z. Results show that younger people, individuals with higher levels of education, and social network users feel more confident about this innovative technology and are more likely to share their expressive facial data. (shrink)

This paper offers an economic analysis of one aspect of the possible liability for incorrect information traded on information markets: expert liability for incorrect asset valuation. The article does not address the questions of whether and under what circumstances an expert should bear contractual liability for an incorrect valuation. Rather, it assumes such contractual liability towards the person who has solicited the opinion and focuses instead on analyzing the circumstances under which the expert’s liability should (...) be extended to third parties as well. (shrink)

Sharing-economy firms have opposed the application of antidiscrimination law to their transactions. At the same time, these firms have heralded their ability to achieve antidiscrimination aims without the force of law, and have adopted various measures to address discrimination. This Article documents and assesses these measures, focusing on the relationship between law and norms. Relying on the sharing economy as a case study, this Article shows how law can play a crucial role in spurring antidiscrimination efforts by firms that it (...) does not regulate, but also how antidiscrimination law might nonetheless be undermined by these voluntary efforts. (shrink)

The purpose of the Chinese Environmental Information Disclosure System is to protect the environment through public participation and public opinion. This paper uses data from listed Chinese companies in heavily polluted industries from 2008 to 2013 to examine the influence that corporate political connection has on corporate environmental information disclosure level. The results show that firstly, while environmental disclosure level has improved over time, negative information that reflects the real status of environmental management has also been concealed. Secondly, although corporate (...) political connection can influence companies to more actively disclose environmental information, it can also mask political rent-seeking in the guise of protecting the environment. This is especially prevalent in state-owned enterprises where political connection has a significant positive impact on CEID in the eastern and western parts of China. If political connections influence CEID, it will be difficult to improve the quality of environmental disclosure and provide useful information for decision makers. There is an urgent need to standardize and strictly regulate listed companies’ system for environmental information disclosure. (shrink)

This paper examines some of the possible legal implications of the production, marketing and use of expert systems. The relevance of a legally useful definition of expert systems, comprising systems designed for use both by laymen and professionals, is related to the distinctions inherent in the legal doctrine underlying provision of goods and provision of services. The liability of the sellers and users of, and contributors to, expert systems are examined in terms of professional malpractice as well as product (...) liability. A recurring theme indicates that legislators may be inclined to restrict possibilities of liability suits in order to avoid disincentives to the creation of expert systems. (shrink)

Corporations, through their products and behaviors, exert a strong effect on the well-being of populations. Industries including frearms, motor vehicles, tobacco, and alcohol produce and market products negatively impact public health. All of these industries are composed of corporations, which are legal fctions designed to provide limited exposure to liability, through a variety of mechanisms, for their investors and directors. This means that when actions are taken on behalf of a corporate entity, the individuals responsible generally will not (...) face personal liability for the negative results of those actions. To illustrate this point, this article considers corporate products or practices that have caused harm in varied settings, and analyzes the role that limited liability played in these cases. In addition, the article identifes ways to modify or eliminate some of the principles and practices that accompany limited liability. (shrink)

This study examines two stock market anomalies and provides strong evidence of the day-of-the-week effect in the Chinese A-share market during the COVID-19 pandemic. Specifically, we examined the Quality minus Junk strategy return on Monday and FridayQuality stocks mean portfolio deciles that earn higher excess returns. As historical evidences suggest that less distressed/safe stocks earn higher excess returns.. The QMJ factor is similar to the division of speculative and non-speculative stocks described by Birru. Our findings provide evidence (...) that the QMJ strategy gains negative returns on Fridays for both anomalies because the junk side is sensitive to an elevated mood and, thus, performs better than the quality side of portfolios on Friday. Our findings are also consistent with the theory of investor sentiment which asserts that investors are more optimistic when their mood is elevated, and generally individual mood is better on Friday than on other days of the week. Therefore, the speculative stocks earned higher sustainable stock returns during higher volatility in Chinese market due to COVID-19. Intrinsically, new evidence emerges on an inclined strategy to invest in speculative stocks on Fridays during the COVID-19 pandemic to gain sustainable excess returns in the Chinese A-share market. (shrink)

Corporations, through their products and behaviors, exert a strong effect on the wellbeing of populations. Public health practitioners and academics have long recognized the harms associated with some corporations’ products. For example, firearms are associated with approximately 30,000 deaths in the United States each year1 and over 200,000 deaths globally. Motor vehicles are associated with about 40,000 deaths in the United States each year and over 1.2 million deaths globally. Tobacco products kill about 438,000 people each year in the United (...) States5 and about 4.9 million people worldwide. In addition to producing unsafe or harmful products, some corporations behave in ways that negatively impact the public’s health, such as marketing alcohol to youth and other vulnerable populations. Given these observations, one can conclude that it is possible to quantify the public health impact of individual industries, such as firearms, motor vehicles, tobacco, and alcohol. Health professionals can then target these individual industries to prevent or lessen the harms they cause. (shrink)

Animal welfare is an importantsocietal issue in Switzerland. Policy makershave responded with a strict legislation onanimal protection and with two programs topromote animal friendly husbandry. Alsoprivate actors in the meat industry initiatedprograms for animal friendly meat productionto meet consumers' expectations. Labeled meathas a market share of over 20%. Depending onthe stakeholders responsible for the labels,their objectives vary. While retailers want toattract consumers with meat produced in ananimal friendly and environmentally compatiblemanner and with products of consistently goodsensory quality, producers (...) want to keep marketshares and increase their revenues. (shrink)

The main indicators of assistance activity in the insurance market in Ukraine have been analyzed. Beneficial and negative trends of its development have been shown. The dynamics of the insurers' liquidation expenses structure and the payment of services expenses of the assistance establishments have been highlighted. Their structure has been shown due to the types of voluntary and compulsory insurance. The main problems hindering the effective development of the assistance services market have been characterized and the prospects of (...) its development have been offered. The aim of the research is to carry out comprehensive analysis of the current market of assistance services, to identify the main problems of their implementation and to point out the prospects of insurance market development. The dynamics of insurance bonuses and benefits including insurance compensation and services and the insurers' operating expenses concerning the payment of services of the assistance establishments has been analyzed on the basis of a sample survey of the main indicators of insurance market development due to the statistic data of National Committee of Financial Services. It has been revealed that majority of the insurance services provide settlement of insurance claims by offering assistance service. Alongside increasing of the share of insurance payment due to the contract providing the insurance service, allows the majority of insurance claims to be settled due to the payment of insurance compensation. Expenses on assistance services were the highest and the court expenses were the lowest in the structure of the insurer's liquidation expenses during 2011-2014. Expenses on services of the non-residential assistance establishments are low but they are increasing. It shows that emergency assistance to our citizens in the country and outside is being increased. Structure of assistance services in the voluntary and compulsory insurance market has been analyzed; main trends of assistance activity development according to the separate insurance services have been highlighted. In particular it was found out that the greatest amount of assistance services were provided due to the voluntary medical insurance, medical costs insurance, land transport insurance and compulsory insurance of civil liability of the owners of vehicles. On the basis of conducted analysis, we can draw a conclusion about the low level of assistance services market development. It is affected by negative trends of economic and political crisis, low solvency of insurers and the quality of insurance services, a lack of guaranties to provide emergency assistance in time, imperfect state regulation of assistance services provision, and a low level of institutional support. We offer to intensify the interaction between the insurers and assistance companies while providing insurance services including additional ones, insurance compensation, and settlement of insurance claims by ensuring emergency assistance in monetary and natural-material form. This will promote the increasing of quality of the insurance protection. (shrink)

The essay theorizes the responsibilities moral agents may be said to have in relation to global structural social processes that have unjust consequences. How ought moral agents, whether individual or institutional, conceptualize their responsibilities in relation to global injustice? I propose a model of responsibility from social connection as an interpretation of obligations of justice arising from structural social processes. I use the example of justice in transnational processes of production, distribution and marketing of clothing to illustrate operations of structural (...) social processes that extend widely across regions of the world. The social connection model of responsibility says that all agents who contribute by their actions to the structural processes that produce injustice have responsibilities to work to remedy these injustices. I distinguish this model from a more standard model of responsibility, which I call a liability model. I specify five features of the social connection model of responsibility that distinguish it from the liability model: it does not isolate perpetrators; it judges background conditions of action; it is more forward looking than backward looking; its responsibility is essentially shared; and it can be discharged only through collective action. The final section of the essay begins to articulate parameters of reasoning that agents can use for thinking about their own action in relation to structural injustice. a Footnotesa Thanks to David Alexander, Daniel Drezner, David Owen, and Ellen Frankel Paul for comments on an earlier version of this essay. Thanks to David Newstone for research assistance. (shrink)

Intensified and extensive data production and data storage are characteristics of contemporary western societies. Health data sharing is increasing with the growth of Information and Communication Technology platforms devoted to the collection of personal health and genomic data. However, the sensitive and personal nature of health data poses ethical challenges when data is disclosed and shared even if for scientific research purposes. With this in mind, the Science and Values Working Group of the COST Action CHIP ME ‘Citizen's Health through (...) public-private Initiatives: Public health, Market and Ethical perspectives’ identified six core values they considered to be essential for the ethical sharing of health data using ICT platforms. We believe that using this ethical framework will promote respectful scientific practices in order to maintain individuals’ trust in research. We use these values to analyse five ICT platforms and explore how emerging data sharing platforms are reconfiguring the data sharing experience from a range of perspectives. We discuss which types of values, rights and responsibilities they entail and enshrine within their philosophy or outlook on what it means to share personal health information. Through this discussion we address issues of the design and the development process of personal health data and patient-oriented infrastructures, as well as new forms of technologically-mediated empowerment. (shrink)

Are limited liability business corporations compatible with the free market, as libertarians understand it? Many libertarians think they are. Others are at least doubtful. And still others—I include myself1 among them—deny that limited liability business corporations belong in a free market.2 My purpose here is to spell out some of the reasons for that denial as well as to qualify it: I have no argument against large enterprises that issue limited liability shares or protect their (...) managers with extensive vicarious liability arrangements. However, as we shall see, the compatibility problem of the corporation does not stem from these contemporary business practices. There is no need here to consider the legal and political incentives and disincentives, such as tax and labour laws, accountancy requirements, jurisprudential doctrines, administrative practices and so on, that in various national legal systems may incline people to see the corporate form as advantageous or disadvantageous relative to other forms of business organisation. Such factors reflect various types of interventions by the state, its legislators, administrators and judges, which would be absent in a libertarian free market. Consequently, they are not germane to the logical question of the compatibility of business corporations with the principles of the free market. Of course, I must assume respect for personal.. (shrink)

To a large extent liability for ICT perils is still a grey area, even though an increasing number of information security researchers adopt economic approaches to highlight market mechanisms and externalities. That is why this article focuses on the need for increased awareness of externalities and liability among ICT professionals and their customers. This is critical to achieve in order to promote appropriate ICT technologies and services with comprehensible privacy and security protection. What is needed is a (...) better understanding of the consequences of externalities from ICT perils. This would benefit customers and increase trust in ICT products and services which in turn may even increase suppliers' profit margin; customers would be prepared to buy more services and products if contracts and service level agreements would accept more liability. Moreover, suppliers could sell guaranties and insurances on top of their products and services. The result would be a win-win situation and would benefit society at large. (shrink)

The product market competition has become a global challenge for business organizations in the challenging and competitive market environment in the influx of the COVID-19 outbreak. The influence of products competition on organizational performance in developed economies has gained scholars’ attention, and numerous studies explored its impacts on business profitability. The existing studies designate mixed findings between the linkage of CSR practices and Chinese business firms’ healthier performance in emerging economies; however, the current global crisis due to the (...) coronavirus has made product market completion fierce, which ultimately affects business firms’ performance. This study focuses on this logical global challenge, investigates the rationale, and examines product-market completion impact on firms’ performance operating in the Chinese markets. The study collected data from the annual reports of Chinese business organizations with A-share listing and registered with the database of China Stock Markets and Accounting Research. The study employed a Generalized Method of Moment technique and investigated the connection between product market competition and Chinese firm performance. The empirical analysis of this study highlights the conclusion that market competition positively and significantly affected business firms’ performance. This study specified that product market competition play a dynamic and indispensable role in achieving healthier firm performance in the Chinese markets. This study provides valuable insights on practical implications and future research directions for the scholars to draw interesting results with new study models. (shrink)

This collection of essays by one of America's leading legal theorists is unique in its scope: It shows how traditional problems of philosophy can be understood more clearly when considered in terms of law, economics and political science. There are four sections in the book. The first offers a new version of legal positivism and an original theory of legal rights. The second section critically evaluates the economic approach to law, and the third considers the relationship of justice to (...) class='Hi'>liability for unintentional harms and to the practice of settling disputes rather than fully litigating them. Finally, Coleman explores formal social choice in democratic theory, the relationship between market behaviour and voting, and the view that morality itself, like law, is a solution of the problem of market failure. This book will be of cardinal importance to philosophers of law, legal theorists, political scientists and economists. (shrink)

PowerMaster was a malt liquor which Heileman Brewing Company sought to market to inner-city blacks in the early 1990s. Due to widespread opposition, Heileman ceased its marketing of PowerMaster. This paper begins by exploring the moral objections of moral illusion, moral insensitivity and unfair advantage brought against Heileman’s marketing campaign. Within the current market system, it is argued that none of these criticism was clearly justified. Heileman might plausibly claim it was fulfilling its individual moralresponsibilities.Instead, Heileman’s marketing program (...) must be viewed as part of a group of marketing programs which all targeted inner-city blacks. It is argued that those marketers who target this particular market segment constitute a group which is collectively responsible for theharms imposed by their products on inner-city blacks. This responsibility is reducible neither to individual responsibility nor to a shared responsibility. It constitutes a dimension of moral responsibility to which marketers must pay attention. (shrink)

The question of liability in the case of using intelligent agents is far from simple, and cannot sufficiently be answered by deeming the human user as being automatically responsible for all actions and mistakes of his agent. Therefore, this paper is specifically concerned with the significant difficulties which might arise in this regard especially if the technology behind software agents evolves, or is commonly used on a larger scale. Furthermore, this paper contemplates whether or not it is possible to (...) share the responsibility with these agents and what are the main objections surrounding the assumption of considering such agents as responsible entities. This paper, however, is not intended to provide the final answer to all questions and challenges in this regard, but to identify the main components, and provide some perspectives on how to deal with such issue. (shrink)

Women's small share of professional and managerial occupations compared with their share of the total labor force is examined for the 11 largest racial and ethnic minorities in the United States. Gender-related characteristics—women's labor force participation rates, marital status, and the sex ratio—influence women's share of the top jobs, as do class and ethnic variables such as place of birth, population size, and class of worker. Labor market gender inequality is greatest among the smaller, more affluent (...) minorities, many of whom are recent immigrants to this country. The larger, frequently indigenous, minority groups exhibit less of this kind of inequality. Minority and gender status intersect, so that men monopolize surplus resources among the more affluent minority groups and use these resources to secure a more advantaged labor market position. (shrink)

In my recent article in the Journal of Medical Ethics, I attacked the Laissez Choisir Argument in defence of letting individuals choose whether to sell kidneys or other organs as living donors, and I argued that such transactions should generally remain prohibited.1 The LC Argument arises as a response to a prohibitionist claim that I endorse: organ sales should be banned to protect potential poverty-stricken vendors, even if a free market could provide great benefits to potential organ recipients. The (...) LC Argument says that this is misplaced paternalism, since banning the market only takes away from willing vendors what they must regard as their best option, thereby leaving them even worse off, at least as they see things. My refutation of the LC Argument pointed out, on the contrary, that giving some people the option to sell their organs may harm them in ways they would reasonably prefer not to be harmed—even though they would reasonably prefer to take the option once it is presented. The upshot is that many potentially willing organ vendors might themselves reasonably prefer prohibition. I argued that the harms of a live donor organ market to this group would in fact be significant and unavoidable, and that it would be morally impermissible to impose these harms. And I suggested that this argument for prohibition best explicates an inchoate but widely shared moral concern about the exploitative nature of live donor organ trading.I thank Gerald Dworkin, Janet Radcliffe Richards and Adrian Walsh for their engaging and often insightful commentaries.2–4 I agree with a lot, but I will …. (shrink)

Objectives of socially responsible investment (SRI) are discussed with reference to the two main mechanisms of the SRI ‘movement’: shareholder advocacy and managed investments. We argue that in their current forms, both mechanisms lack the power to create significant corporate change. Shareholder advocacy has been largely unsuccessful to date. Even if resolutions were successful, shareholder advocacy may still be ineffective if underlying economic opportunities remain. Marketing material and investment prospectuses issued by socially responsible mutual funds (SRI funds) commonly contain the (...) claim that, by affecting corporations' access to capital funding, SRI funds can change corporate practices. This paper makes a contribution by presenting the market share of SRI funds in the regions where they are most developed, being Europe, the U.S. and Australia, to show that this claim is unlikely to eventuate. SRI funds also commonly claim that they will outperform conventional active mutual funds. That the economic performances of both are similar might be explained by their similar portfolio compositions. The paper makes an innovation in the SRI literature by adopting a legitimacy framework to explain the continued presence of SRI funds. To achieve desired social and environmental outcomes, SRI funds are urged to address issues at a more systemic level. A suggested mechanism is the collective lobbying of corporations and, especially, governments. (shrink)

This book is also concerned with world economics, but it is approached from the viewpoint of ethics. It argues that the hubris of the present global market is destroying communities and wreaking irrevocable damage to the planet: we live in a modern version of the Midas myth.Justice in its broadest sense -- fair shares for all -- is eloquently held up as the prime virtue of human communities. Timothy Gorringe, Professor of Systematic Theology at the University of Exeter, offers (...) practical suggestions for an ethical transformation to replace the spiraling profit-driven economy with a steady-state economy that meets human needs and encompasses the well-being of other species and the environment. (shrink)

Companies that use online group-buying to get new business expansion opportunities at a price advantage are failing. Therefore, there is a need to develop new marketing strategies for group-buying companies to achieve market share and consumer favor. Given that consumers are society members, we used the social interaction theory to investigate the combination of factors that stimulate consumers’ purchase intentions. Fuzzy-set Qualitative Comparative Analysis was performed to evaluate different strategy configurations of social interaction elements, perceived quality, benefits and (...) trust to promote purchase decisions from 406 group-buying consumer questionnaires. We revealed four pathways with different configurations that can prompt consumers to make group-buying decisions: information strategy, Word-of-Mouth strategy, sense of community strategy, as well as combining Word-of-Mouth and sense of community strategy. These strategies provide viable approaches through which group-buying companies can rationally use marketing programs to promote consumers’ purchase intentions. (shrink)

Firms that wish to be morally responsible in providing products that meet a high standard of safety may face problems competing against firms that make unsafe products and sell these products at cheap prices; these problems may be compounded when consumers do not accurately process information about safety and risk. This paper presents a conceptual argument that the tort system may serve to promulgate information which makes it feasible for firms to market safe products even in the face of (...) these competitive obstacles.To corroborate the conceptual argument, the paper presents the results of an experimental study about the impact of negligence liability information on consumer product safety evaluation. The results show that provision of negligence information heightens consumer concern for safety and firms' ethical behavior, and increases the proportion of consumer choices in favors of the brands sold by manufacturers with a favorable track record for quality. More importantly, they indicate that provision of negligence information reduces the likelihood that brands which conform to inferior safety standards will be chosen by consumers who care about safety standards. (shrink)

The link between Corporate Social Responsibility (CSR) and financial performance has continued to generate mixed and inconclusive results. Most studies in this area seem to assume that corporate social and financial performance share the same underpinning logic. Drawing from a qualitative analysis of practitioners' accounts of the challenges of mainstreaming the market for responsible investments, as part of the broader CSR agenda, this article re-examines this taken-for-granted assumption in the extant literature, and reaches the conclusion that CSR, as (...) a complex private governance of externalities, does not easily lend itself to measurability and profitability. In other words, not everything about CSR is measurable and profitable as much as the financial markets would expect. Comparing what is rendered measurable and profitable, on one hand, and what is yet to fully lend itself to measurability and profitability, on the other, is identified as one of the fundamental flaws of this literature. As such, CSR and financial performance will continue to run on competing logics until their different markets are distinctively articulated and/or aligned. (shrink)

Real-world policy decisions involve trade-offs. Sometimes the trade-offs involve both the efficacy and morality of potential policies. In this chapter, the morality and likely efficacy of hiring one more spy to help anti-terrorist intelligence gathering efforts is compared to the morality and likely efficacy of implementing a prediction market on terrorism. Prediction markets on terrorism allow registered traders to buy and sell shares in predictions about terrorism-related real-world events. The comparison at the heart of this chapter is based on (...) the assumption that it would cost about $5 million to bankroll the prediction market project, or to establish another spy, including equipment and head office support, for 15 years. The comparison reveals that implementing a prediction market on terrorism is likely to be more efficacious and less morally problematic than hiring one more spy. (shrink)

This paper explores the conditions favouring or inhibiting the implementation of strategic corporate social responsibility policies in the context of global value chains. Using transaction cost theory, we specify the economic and behavioural issues raised by strategic CSR policies. We show that the existence of market rewards for such policies does not constitute a solution per se, but tends to increase the difficulties that value chain members face. Bringing TCT into the analysis of the diffusion of strategic CSR policies (...) in GVCs helps us to make different contributions. We first theoretically identify some limiting conditions of strategic CSR policies in GVCs. We also contribute to developing a more robust theoretical perspective for CSR in GVC research, which remains underdeveloped and mostly driven by empirical case studies. Finally, we shed light on new research questions and topics that could guide major theoretical and empirical investigations in the capacity of GVCs members to bypass the numerous difficulties involved in the implementation of strategic CSR policies. (shrink)

Direct-to-consumer advertising of healthcare products refers to a variety of marketing practices based on a combination of information and promotion strategies directed at consumers through different media such as radio and television broadcasts, newspaper and magazine ads, and, more recently, through the Internet. The principal form of marketing used by the pharmaceutical industry is the distribution of free samples to physicians but DTCA is an increasing part of global promotional spending for prescription drugs. Latest estimates suggest that DTCA now represents (...) an annual $3.2 billion enterprise for the U.S. pharmaceutical industry. Findings from the literature show that these substantial efforts are geared toward the newer pharmaceuticals for chronic conditions with huge market potentials. The lion's share is going to the 20 most prescribed pharmaceuticals. (shrink)

This study investigates the antecedents and mechanisms of consumers’ adoption of a public bicycle-sharing scheme as a form of shared sustainable consumption. Drawing on marketing ethics and sustainability literature, it argues that cultural and consumption values drive or deter the adoption of PBSS through the mediating mechanism of ethical evaluation. This study tests its hypotheses using a sample of 755 consumers from one of the largest PBSS programs in China. The results confirm the significance of collectivism, man–nature orientation, materialism, and (...) face-consciousness as key determinants of the adoption of PBSS. Interestingly, these values play mixed roles in influencing PBSS adoption. It also finds that such values and beliefs need to be effectively translated into ethical evaluations of PBSS adoption, and need to be addressed in the specific social context. Thus, ethical evaluation constitutes a cognitive strategy that allows consumers to justify and defend their adoption of sustainability practices. The results suggest that a desirable sustainability program needs to not only cater to the cultural and psychological motivations of consumers, but also reflect the social norms and social context in which the sustainability practices and consumers are embedded. (shrink)

After Marx, dissenting economics almost always used 'the labour theory' as a theory of value. This paper develops a modern treatment of the alternative labour theory of property that is essentially the property theoretic application of the juridical principle of responsibility: impute legal responsibility in accordance with who was in fact responsible. To understand descriptively how assets and liabilities are appropriated in normal production, a 'fundamental myth' needs to be cleared away, and then the market mechanism of appropriation can (...) be understood. On the normative side, neoclassical theory represents marginal productivity theory as showing that (a metaphorical version of) the imputation principle is satisfied ('people get what they produce') in competitive enterprises. Since that shows the moral commitment of neoclassical economics to the imputation principle, the labour theory of property is presented here as the actual non-metaphorical application of the imputation principle to property appropriation. The property-theoretic analysis at the firm level shows how the neoclassical (and much heterodox) analysis in terms of 'distributive shares' wholly misframed the basic questions. Finally, the paper shows how the imputation principle (modernised labour theory of property) is systematically violated in the present wage labour system of renting persons. The paper can be seen as taking up the recent challenge posed by Donald Katzner for a dialogue between neoclassical and heterodox microeconomics. (shrink)

Managers conduct open market repurchases for many different reasons, including to distribute excess cash. However, the most widely discussed explanation for OMRs is the “signaling theory:” that managers announce OMRs to signal that the stock is underpriced. The first purpose of this paper is to show that the signaling theory is theoretically problematic—in part because it assumes managers deliberately sacrifice their own wealth to increase that of shareholders—as well as inconsistent with much of the empirical evidence. The second purpose (...) of the paper is to put forward an alternative explanation for managers’ use of OMRs: the managerial-opportunism theory. This theory, which assumes that managers seek to maximize their own wealth, predicts that managers announce OMRs both when the stock is underpriced and when it is not. When the stock is underpriced, managers may announce and conduct an OMR to transfer value to themselves and other remaining shareholders. When managers wish to sell a large portion of their shares, they announce an OMR to boost the stock price before selling their shares. The paper shows that managerial opportunism is not only a more plausible motive for OMRs than is signaling, it is also more consistent with the empirical data. The paper concludes by describing some testable predictions of the theory. (shrink)