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Dewatripont, Mathias
and Tirole, Jean
(2024)
The Morality of Markets.
Journal of Political Economy, vol. 132 (n° 8).
pp. 2655-2694.
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Official URL : http://tse-fr.eu/pub/129702
Identification Number : 10.1086/729445
Abstract
Scholars and civil society have argued that competition erodes supplier morality. This paper establishes a robust irrelevance result, whereby intense market competition does not crowd out consequentialist ethics; it thereby issues a strong warning against the wholesale moral condemnation of markets and procompetitive institutions. Intense competition, while not altering the behavior of profitable suppliers, may, however, reduce the standards of highly ethical suppliers or not-for-profits, raising the potential need to protect the latter in the marketplace.
| Item Type: | Article |
|---|---|
| Language: | English |
| Date: | 2024 |
| Refereed: | Yes |
| Place of Publication: | Chicago |
| Uncontrolled Keywords: | Competition, Consequentialism, Replacement logic, non-profits, Corporate social responsability, Race to the ethical bottom, Non-profits |
| JEL Classification: | D21 - Firm Behavior D43 - Oligopoly and Other Forms of Market Imperfection D6 - Welfare Economics I11 - Analysis of Health Care Markets L21 - Business Objectives of the Firm |
| Subjects: | B- ECONOMIE ET FINANCE |
| Divisions: | TSE-R (Toulouse) |
| Site: | UT1 |
| Date Deposited: | 12 Sep 2024 08:38 |
| Last Modified: | 17 Feb 2025 15:15 |
| OAI Identifier: | oai:tse-fr.eu:129702 |
| URI: | https://publications.ut-capitole.fr/id/eprint/49686 |
