IDEAS home Printed from https://ideas.repec.org/p/keo/dpaper/2023-004.html
   My bibliography  Save this paper

Economics of the Community Mechanism

Author

Listed:
  • Masao Ogaki

    (Faculity of Economics, Keio University)

Abstract

1. This paper discusses the importance of the community mechanism that complements the market and power mechanisms in an economic system during an era of crisis. 2. The community mechanism is defined as a mechanism for resource allocation by which at least one person proposes voluntary cooperation, and the proposal is not rejected. 3. While this community mechanism can function alongside homo economicus in win?win situations, it can be further activated with social preferences for altruism and reciprocity and with norms or worldviews that encourage cooperation. 4. Other factors that relate to these include the character strengths that contribute to community and society known as virtues, with the concept of wellbeing related to virtues being known as eudaimonia

Suggested Citation

  • Masao Ogaki, 2023. "Economics of the Community Mechanism," Keio-IES Discussion Paper Series 2023-004, Institute for Economics Studies, Keio University.
    • Handle: RePEc:keo:dpaper:2023-004
    as

    Download full text from publisher

    File URL: https://ies.keio.ac.jp/upload/DP2023-004_EN.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Community mechanism; Altruism; Reciprocity; Trust; Virtue; Eudaimonia;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D04 - Microeconomics - - General - - - Microeconomic Policy: Formulation; Implementation; Evaluation

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:keo:dpaper:2023-004. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Institute for Economics Studies, Keio University (email available below). General contact details of provider: https://edirc.repec.org/data/iekeijp.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.