Economics of Ethical and Prosocial Behavior: Experiments on Social Responsibility, Ignorance, and Cheating

In this thesis I experimentally investigate prosocial and ethical behavior in economic interactions. The thesis consists of three experimental research papers that have a broad range of research questions on social responsibility, ignorance and cheating. With these experiments I aim to better understand when and why people behave ethically and/or prosocially and which consequences it has on their own and other players’ payoffs, and on overall efficiency. The results from the three experimental studies suggest that (i) donations to charity by employees are rewarded in an experimental setting, and the effect is driven by reciprocal concerns; (ii) there is a significant fraction of people who decide not to know about negative consequences of own actions, and the sorting of social agents of a low type into ignorance drives self-interested behavior of ignorant agents; and (iii) if the possibility of being exposed as a liar is small, the tendency to lie increases with incentives, indicating that some people have positive and finite costs of lying. Furthermore, when the participants lie, they lie to the full extent, which suggests that the intrinsic cost of lying is fixed.

The green finance apparatus. How ideology and planning steer sustainable capital flows

By investigating the inner working of leading financial institutions, and their dense interconnections, this thesis explores the evolution of traditional financial instruments like bonds to tackle sustainability issues. Building on fieldwork among green financiers, the thesis is based upon participant observation of working groups appointed to define standards for sustainable bonds. Engaging critical theory, one claim is that investors are increasingly recruited or interpellated by an emerging global green ideological apparatus, aimed at ensuring the reproduction of existing social relations. Taking stock of the proliferation of both public and private actors in the definition of green standards and practices, the thesis proposes that this green ideology is becoming hegemonic. Focusing on the case of green bond pricing, it suggests that environmental and climate labels and other financial green signifiers for financial products take on brand-like qualities. Crystallizing imaginaries, meanings, and forms of personhood, they play a fundamental role in what is defined as a dual process of valuation-cum-subjectivation. Identifying themselves as “green”, financiers valuate differently green and brown assets allowing a ‘green’ financial value to slowly come to matter. Yet, alongside their ideological role, green labels have come to be almost exclusively standardized with reference to specific Climate Scenarios (e.g. Net Zero). These scenarios coordinate the optimal path towards achieving a carbon neutral world and represent the quintessential example of socioeconomic planning, crucially undermining neoliberal ideas of ‘the market’ as the ultimate calculative device.

Economics, wildlife tourism and conservation: Three case studies

This report presents the results of an economics component of the National Interdisciplinary Project (NIP) on wildlife tourism in Australia. The main objectives of the study were to outline and assess the role that economics can play in the valuation and management of wildlife-based tourism, undertake appropriate case studies to highlight the value of economics and its limits in assessing wildlife tourism in each case, take into account relevant environmental issues involved in wildlife tourism, and make future recommendations.

Economics, Wildlife Tourism and Conservation: Three Case Studies

This report presents the results of an economics component of the National Interdisciplinary Project (NIP) on wildlife tourism in Australia. The main objectives of the study were to outline and assess the role that economics can play in the valuation and management of wildlife-based tourism, undertake appropriate case studies to highlight the value of economics and its limits in assessing wildlife tourism in each case, take into account relevant environmental issues involved in wildlife tourism, and make future recommendations.

Asian elephants as agricultural pests: Economics of control and compensation in Sri Lanka

Despite growing attention to crop and property damage caused by the Asian elephant, uncertainty exists about the magnitude of this problem. This article explores the nature and, Magnitude of this problem in Sri Lanka. An economic analysis of individual farmers'. decisions to control elephants is provided. Government policies to assist farmers in coping with the elephant pest problem are assessed. Appropriate compensation schemes for farmers are seen as potentially more effective for conserving elephants in Sri Lanka than legal prohibitions on the killing of elephants. The issues raised here have wider relevance than merely to Sri Lanka or Asian elephants.

“Abuso de Informação, Manipulação do Mercado&Responsabilidade Penal das Pessoas Colectivas”

Este livro trata do direito penal económico e financeiro. Agora tão infelizmente na moda com os escândalos públicos ligados a bancos e/ou instituições mais ou menos financeiras e pessoas públicas. Fornece um especial enfoque no direito penal dos mercados de valores mobiliários e/ou outros instrumentos financeiros. § This book deals with the economic and financial criminal law. Now so sadly fashionable with public scandals linked to banks and / or about financial institutions and public figures. It provides a special focus on criminal matters in the securities markets and / or other financial instruments.

The determinants of international equity and bond investment

The purpose of this research is fourfold. First, to investigate whether the determinants of international equity investment differ between investors with different degrees of information, experience and sophistication. For this purpose, the determinants of international equity investment of institutional and noninstitutional investors from 20 OECD countries, in the period 2001-2009, were analysed and compared. The results show that there are significant differences in the determinants of international equity investment between institutional and noninstitutional investors. Particularly, noninstitutional investors exhibit a more pronounced preference for equities of geographical nearby, contiguous and more transparent countries than institutional investors, suggesting that the effect of information costs and familiarity on international equity investment is stronger for less informed, experienced and sophisticated investors. Moreover, the preference for more developed equity markets and the contrarian behaviour are more severe for noninstitutional investors. Hence, the heterogeneity of institutional and noninstitutional investors in international equity investment is not negligible and therefore should be taken into account. Second, to investigate whether the determinants of international bond investment differ between investors with different degrees of information, experience and sophistication. For this purpose, the determinants of international bond investment of institutional and noninstitutional investors from 20 OECD countries, in the period 2001-2009, were analysed and compared. The results show that there are few significant differences in the determinants of international bond investment between institutional and noninstitutional investors. Particularly, the preference for bonds of more transparent countries and the return chasing behaviour are more pronounced for noninstitutional investors, whereas the preference for bonds with lower risk diversification potential is more pronounced for institutional investors. Hence, not only the results for international bond investment do not allow to support (or reject) the argument that information costs and familiarity are more important for less informed, experienced and sophisticated investors, but also they are contrary to the idea that financial variables, namely return and risk diversification, are more important for more informed, experienced and sophisticated investors. Third, to investigate whether the determinants of international equity investment differ from the determinants of international bond investment. For this purpose, the determinants of both international equity and bond investment of institutional and noninstitutional investors from 20 OECD countries, in the period 2001-2009, were analysed and compared. The results show that, although the effect of information costs on international equity investment tends to be stronger than on international bond investment, the differences between assets are not usually statistically significant, especially when the influence of financial variables is taken into account. Hence, it is not possible to conclude that international equity investment is much more information intensive than international bond investment, as suggested by Gehrig (1993) and Portes, Rey and Oh (2001), among others. Fourth, to investigate whether the flight to quality phenomenon is also observable in international investment and whether the flight to quality phenomenon is more pronounced for more sophisticated than for less sophisticated investors. For this purpose, a two-factor and three-factor ANOVA models, respectively, were applied to the international equity and bond investment of institutional and noninstitutional investors from 20 OECD countries in the period 2001-2009. The results suggest that the flight to quality phenomenon is also observable in international investment, as a change from business cycle of expansion to recession causes investors to significantly decrease the average weight invested in more risky assets (equities) and increase the average weight invested in less risky assets (bonds). The results also show that the variation on the average weight assigned to each type of asset, due to changes in business cycles, is significantly stronger for institutional investors than for noninstitutional investors, thereby suggesting that the flight to quality phenomenon is more pronounced for more sophisticated than for less sophisticated investors.

Joining the online video conversation? Discourse and practices of European political institutions and politicians on YouTube

To mimic the online practices of citizens has been declared an imperative to improve communication and extend participation. This paper seeks to contribute to the understanding of how European discourses praising online video as a communication tool have been translated into actual practices by politicians, governments and organisations. By contrasting official documents with YouTube activity, it is argued that new opportunities for European political communication are far from being fully embraced, much akin to the early years of websites. The main choice has been to use YouTube channels fundamentally for distribution and archiving, thus neglecting its social media features. The disabling of comments by many heads of state and prime ministers - and, in 2010, the European Commission - indicates such an attitude. The few attempts made to foster citizen engagement, in particular during elections, have had limited success, given low participation numbers and lack of argument exchange.

Problemáticas do jornalismo económico

Relatório de estágio apresentado à Escola Superior de Comunicação Social como parte dos requisitos para obtenção de grau de mestre em Jornalismo.