Laboratory studies of social interaction have revealed a wide range of phenomena that are difficult to explain using standard economic models. For example, people will often…
Abstract
Laboratory studies of social interaction have revealed a wide range of phenomena that are difficult to explain using standard economic models. For example, people will often sacrifice their own earnings in order to be generous, cooperative, punitive, and retributive in interactions with anonymous strangers. “Behavioral” models that redefine agents’ preferences attempt to provide an account of these phenomena as reflecting a “taste for fairness” or altruism, aversion to inequality, concern about others’ beliefs, and so on. Such models either fail to account for the rich sensitivity of actions to context or in allowing for rich context-dependence, these models ultimately substitute description for explanation. Hayek’s work provides a foundation for thinking about how to explain these phenomena, by conceiving of people as both purpose-seeking (as in economic models) and rule-following. Decisions are shaped both by material interests and by a normative framework that is evoked by context and helps people decide what one ought to do in a particular situation. The implication of this approach is that rather than trying to understand heterogeneity across individuals in terms of preferences, experimenters should instead try to understand heterogeneity across contexts in terms of the rules and norms that operate in the background and guide or constrain people’s purpose-seeking tendencies. What economics needs, then, is a theory of how and why these rules and norms vary with context as they do.
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The experimental parliamentary subsidy on knights' fees and freehold incomes from lands and rents of 1431 was the only English direct lay tax of the Middle Ages which broke down…
Abstract
The experimental parliamentary subsidy on knights' fees and freehold incomes from lands and rents of 1431 was the only English direct lay tax of the Middle Ages which broke down. As such, this subsidy has a clear historiographical significance, yet previous scholars have tended to overlook it on the grounds that parliament's annulment act of 1432 mandated the destruction of all fiscal administrative evidence. Many county assessments from 1431–1432 do, however, survive and are examined for the first time in this article as part of a detailed assessment of the fiscal and administrative context of the knights' fees and incomes tax. This impost constituted a royal response to excess expenditures associated with Henry VI's “Coronation Expedition” of 1429–1431, the scale of which marked a decisive break from the fiscal-military strategy of the 1420s. Widespread confusion regarding whether taxpayers ought to pay the feudal or the non-feudal component of the 1431 subsidy characterized its botched administration. Industrial scale under-assessment, moreover, emerged as a serious problem. Officials' attempts to provide a measure of fiscal compensation by unlawfully double-assessing many taxpayers served to increase administrative confusion and resulted in parliament's annulment act of 1432. This had serious consequences for the crown's finances, since the regime was saddled with budgetary and debt problems which would ultimately undermine the solvency of the Lancastrian state.
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Hannah R. Marston, Linda Shore, Laura Stoops and Robbie S. Turner
Claretha Hughes, Lionel Robert, Kristin Frady and Adam Arroyos
Sarthak Mondal, Daniel Plumley and Rob Wilson
This paper analyses J1 League and J2 League clubs during the period 2011–2020 to anticipate financial distress.
Abstract
Purpose
This paper analyses J1 League and J2 League clubs during the period 2011–2020 to anticipate financial distress.
Design/methodology/approach
Data were collected for 29 professional football clubs competing in the J1 and J2 League for the financial years ending 2011–2020. Analysis was conducted using Altman’s Z-score methodology and additional statistical tests were conducted to measure differences between groups.
Findings
The results show significant cases of financial distress amongst clubs in both divisions and that clubs that have played predominantly in the J1 League are in significantly poorer financial health than clubs that have played predominantly in the J2 League. Overall, the financial situation in Japanese professional football needs to be monitored, a position that could be exacerbated by the economic crisis, caused by the coronavirus disease 2019 (COVID-19).
Research limitations/implications
While the financial situation for a majority of the clubs in the J-League presents an austere picture, comparison with clubs in other leagues across Asia and Europe and understanding the different policies set by these leagues would enable us to understand whether the phenomenon of financial distress is common to other clubs and leagues across different countries and continents.
Practical implications
The paper recommends that J-League visit the existing club licensing criteria and implement equitable cost-control measures, such as implementing a cap on acceptable losses over a specified period or restricting overall expenditures as a percentage of the club’s revenue.
Originality/value
The paper extends the evidence base of measuring financial distress in professional team sports and is also the first paper of its kind to examine this in relation to Asian professional football.
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Emily Morrison, Henriette Lundgren and SeoYoon Sung
While literature offers substantial evidence regarding both strengths and shortcomings of experiential learning for learners, far less is known about how educators reflect on…
Abstract
While literature offers substantial evidence regarding both strengths and shortcomings of experiential learning for learners, far less is known about how educators reflect on, make sense of, and learn from experiential teaching, let alone address emotions that invariably affect the process (Pekrun & Linnenbrink-Garcia, 2012; Wright, Lund Dean, & Forray, 2021). The purpose of this chapter is to explore the dynamic nature of emotions in the context of experiential teaching, that is, the facilitation of experiential learning activities, by examining critical incidents from the educators’ perspective. The chapter begins by introducing literature on experiential teaching and emotion. The authors then present the empirical findings from a critical incidents study, noting how participants succeeded or failed to catch the waves of emotion that emerged while facilitating experiential learning activities. The authors connect the findings with the existing literature, taking into consideration both sensemaking and reflective practices during and after experiential teaching. The authors close by identifying ways educators can learn to surf the inevitable waves of emotion that can emerge within themselves and in learners, offering specific tools to maintain balance and develop further competence in the midst of experiential learning.
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Donald L. Ariail, Nicholas Emler and Mohammad J. Abdolmohammadi
Prior studies investigating the relationship between moral reasoning (as measured by the defining issues test, DIT) and political orientation have rendered mixed results. We seek…
Abstract
Prior studies investigating the relationship between moral reasoning (as measured by the defining issues test, DIT) and political orientation have rendered mixed results. We seek to find an explanation for these mixed results. Using responses from a sample of 284 practicing certified public accountants (CPAs), we find evidence that value preferences underlie both moral reasoning and political orientation. Specifically, we find a statistically significant inverse relationship between moral reasoning and conservatism in univariate tests. However, this relationship is no longer significant when eight individual value preferences and gender are taken into account. These results suggest that variations in moral reasoning scores of CPAs are accounted for by their value preferences, which also underlie their relative conservatism.