URMI and its Integration into a framework for Ethics in Economics
AbstractUtility, Rationality and Methodological Individualism (URMI) are the dominant aspects which determine the paradigm of ethics applicable in economic decision making process. Generally, in traditional economics the decision-making process for individuals has no significant space for ethics as individuals are only interested in maximizing their profits. URMI is a very important concept the formulation of which into various combinations determines different functions for ethics in economics. Economists have used different definitions for the constituents of this concept but there can not be sighted noteworthy effort to integrate these multi dimensional phenomena into a framework for ethics in economics. This paper integrates different approaches about URMI and chalk out a framework for incorporating ethics into economics.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 48344.
Date of creation: 15 Jul 2013
Date of revision:
Publication status: Published in INTERDISCIPLINARY JOURNAL OF CONTEMPORARY RESEARCH IN BUSINESS No 8.3(2011): pp. 798-803
Ethics; utility; methodological individualism; framework; economics;
Other versions of this item:
- Gul, Ejaz, 2013. "Economic Risk Exposure of Selected Projects and Risk Attitude of Investors; Evidence from Liberia," MPRA Paper 48221, University Library of Munich, Germany.
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- Gul, Rjaz, 2013. "Socio-Economic Context of Saving Biodiversity," MPRA Paper 48401, University Library of Munich, Germany.
- D6 - Microeconomics - - Welfare Economics
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Social and Economic Stratification
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-07-20 (All new papers)
- NEP-HME-2013-07-20 (Heterodox Microeconomics)
- NEP-UPT-2013-07-20 (Utility Models & Prospect Theory)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- #HEJC papers for August 2013
by academichealtheconomists in The Academic Health Economists' Blog on 2013-07-31 23:00:48
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