Based on case studies of religious Muslim and Christian family firms operating in a religiously diverse country, we explain the multiplicity of family, business, religion, and community logics in the family firm. In particular, we give attention to the religion logic and how it interacts with other logics when family firms are considering ethical issues. We show that religion has a rule-based approach in Muslim family firms and a principle-based approach in Christian family firms. We also draw attention to the (...) fluidity characteristic of the religion logic, through which family firms interpret the role of religion among other logics in influencing ethical decisions. Our study advances institutional logics literature in highlighting the plurality between and within logics in family firms, and contributes to the growing recognition of the influence of religious beliefs on the ethical behaviors of family firms. (shrink)
A constantly changing social reality means economic theories, even if correct today, need to be constantly revised, updated, or abandoned. To maintain an up-to-date understanding of its subject matter, economists have to continuously assess their theories even those that appear to be empirically corroborated. Economics could gain from a method that describes and is capable of generating novel explanatory hypotheses. A pessimistic view on the existence of such a method was famously articulated by Karl Popper in The Logic of Scientific (...) Discovery. He wrote ‘there is no such a thing as a logical method of having ideas or a logical reconstruction of this process.’ Herbert Simon responded to Popper and argued the opposite, namely, that there is a model of discovery and its name is abduction. Simon acknowledges his debt to Charles Peirce – the first modern logician to explicitly formulate a theory of abduction – and explains that abduction is a model of discovery that works as a problem-solving heuristic encoded.. (shrink)
ABSTRACTThis paper is about a little known part of Allais’ oeuvre, namely his restatement of the quantity theory of money. It shows that this restatement contains an original refinement of the notion of stability of the relative demand for money. To explain this refinement, this essay investigates Allais’ concept of psychological time – a concept strongly emphasised but not duly examined by most of his commentators. It shows how Allais’ restatement of the quantity theory amounts – in the final analysis (...) – to a theory of time. It explores an analogy, Allais mentioned, between his quantity theory and the theory of relativity in physics, revealing thereby the ontological nature of this restatement. (shrink)
The backward induction controversy in game theory flared up and then practically ended within a decade – the 1990s. The protagonists, however, did not converge on an agreement about the source of the controversy. Why was this the case, if opposing sides had access to the same modelling techniques and empirical facts? In this paper I offer an explanation for this controversy and its unsettled end. The answer is not to be found in the modelling claims made by the opposing (...) protagonists, but in the tacit metaphors they operate under. Aristotle defined metaphor as giving a 'thing a name that belongs to something else'. The meaning of metaphors has not changed much since then – in contrast to models which are comparatively new, and still not well-understood, scientific tools. The controversy of backward induction in game theory provides a test bed for the explanatory power of metaphors. This paper frames the controversy in terms of metaphor choice to provide a common framework for the protagonists. This results in the identification of three different domains – mathematical logic, game theory and the world – each connected to the other via different metaphors. The controversy around backward induction is placed in, and tentatively explained by, this framework. (shrink)
In this paper, we present a deterministic time discrete mathematical model based on multiregional periodic matrices to describe the dynamics of Sardina pilchardus in the Central Atlantic area of the Moroccan coast. This model deals with two stages (immature and mature) and three spatial zones where sardines are supposed to migrate from one zone to another. The population dynamics is described by an autonomous recurrence equation N ( t + 1) = A . N ( t ), where A is (...) a positive matrix whose entries are estimated using data collected during biannual acoustic surveys carried out from 2001 to 2003 onboard the Norwegian research vessel “Dr Fridtjof Nansen”. The dominant eigenvalue λ of A that gives the long-term growth rate of fish population is smaller than one. This agrees with the stock decrease observed in the data collected. We show that λ is highly sensitive to the recruitment rate and much less sensitive to the reproduction rate. These results can clearly be used to define an efficient scenario in order to fight for instance against a stock decrease. (shrink)
We focus on two aspects: First, we argue that it is necessary to include implicit forgiveness as an additional adaptive behavioral option to the perception of interpersonal transgressions. Second, we present one possible way to investigate the cognitive-affective underpinnings of revenge and forgiveness: a functional MRI (fMRI) approach aiming at integrating forgiveness and revenge mechanisms into a single paradigm.
My main argument is that the advice offered to experimental psychologists by Hertwig & Ortmann overlooks fundamental differences between the goals of researchers in psychology and economics. Furthermore, it is argued that the reduction of data variability is not always an end to be sought by psychologists. Variability that originates in individual differences constitutes valuable data for psychological research.