Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/43458
Authors: 
Bénabou, Roland
Tirole, Jean
Year of Publication: 
2010
Series/Report no.: 
Nota di lavoro // Fondazione Eni Enrico Mattei: Institutions and markets 2010,23
Abstract: 
Society's demands for individual and corporate social responsibility as an alternative response to market and distributive failures are becoming increasingly prominent. We first draw on recent developments in the 'psychology and economics' of prosocial behavior to shed light on this trend, which reflects a complex interplay of genuine altruism, social or self image concerns, and material incentives. We then link individual concerns to corporate social responsibility, contrasting three possible understandings of the term: the adoption of a more long-term perspective by firms, the delegated exercise of prosocial behavior on behalf of stakeholders, and insider-initiated corporate philanthropy. For both individuals and firms we discuss the benefits, costs and limits of socially responsible behavior as a means to further societal goals.
Subjects: 
Corporate Social Responsibility
Socially Responsible Investment
Image Concerns
Shareholder Value
JEL: 
D64
D78
H41
L31
Document Type: 
Working Paper

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