Réttlæti og sérhagsmunir
This paper briefly summarizes recent research on justice, in particular Konow’s (2003) positive theory of justice. This research is then applied to recent events in Iceland: the attempt by Iceland’s largest bank to take over a savings bank. Shortly after the deal was announced the Icelandic Parliame...
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ftmpra:oai::14749 2023-05-15T16:50:23+02:00 Réttlæti og sérhagsmunir Baldursson, Fridrik M. 2004 application/pdf https://mpra.ub.uni-muenchen.de/14749/ https://mpra.ub.uni-muenchen.de/14749/1/MPRA_paper_14749.pdf en is eng ice https://mpra.ub.uni-muenchen.de/14749/1/MPRA_paper_14749.pdf Baldursson, Fridrik M. (2004): Réttlæti og sérhagsmunir. Published in: Fjármálatíðindi , Vol. 51, No. 2 (2004): pp. 78-86. D63 - Equity Justice Inequality and Other Normative Criteria and Measurement D72 - Political Processes: Rent-Seeking Lobbying Elections Legislatures and Voting Behavior D78 - Positive Analysis of Policy Formulation and Implementation K10 - General MPRA Paper NonPeerReviewed 2004 ftmpra 2023-04-09T04:47:00Z This paper briefly summarizes recent research on justice, in particular Konow’s (2003) positive theory of justice. This research is then applied to recent events in Iceland: the attempt by Iceland’s largest bank to take over a savings bank. Shortly after the deal was announced the Icelandic Parliament quickly and unanimously passed a law which blocked it by creating a hold-up situation for the savings bank board: if it converts the bank to a corporation – as is necessary prior to takeover – an outside board will replace the present board. It is argued that the strong support for the law is puzzling when seen from the perspective of theories of pressure groups, regulatory threat and privatization. However, the paper claims that this may be explained by positive analysis of justice: the board played an ultimatum game against the general public and made what was perceived as an unfair proposal. The proposal was soundly rejected by the public, as usually happens when unfair offers are made in ultimatum games. Report Iceland Munich Personal RePEc Archive (MPRA - Ludwig-Maximilians-University Munich) |
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Munich Personal RePEc Archive (MPRA - Ludwig-Maximilians-University Munich) |
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ftmpra |
language |
English Icelandic |
topic |
D63 - Equity Justice Inequality and Other Normative Criteria and Measurement D72 - Political Processes: Rent-Seeking Lobbying Elections Legislatures and Voting Behavior D78 - Positive Analysis of Policy Formulation and Implementation K10 - General |
spellingShingle |
D63 - Equity Justice Inequality and Other Normative Criteria and Measurement D72 - Political Processes: Rent-Seeking Lobbying Elections Legislatures and Voting Behavior D78 - Positive Analysis of Policy Formulation and Implementation K10 - General Baldursson, Fridrik M. Réttlæti og sérhagsmunir |
topic_facet |
D63 - Equity Justice Inequality and Other Normative Criteria and Measurement D72 - Political Processes: Rent-Seeking Lobbying Elections Legislatures and Voting Behavior D78 - Positive Analysis of Policy Formulation and Implementation K10 - General |
description |
This paper briefly summarizes recent research on justice, in particular Konow’s (2003) positive theory of justice. This research is then applied to recent events in Iceland: the attempt by Iceland’s largest bank to take over a savings bank. Shortly after the deal was announced the Icelandic Parliament quickly and unanimously passed a law which blocked it by creating a hold-up situation for the savings bank board: if it converts the bank to a corporation – as is necessary prior to takeover – an outside board will replace the present board. It is argued that the strong support for the law is puzzling when seen from the perspective of theories of pressure groups, regulatory threat and privatization. However, the paper claims that this may be explained by positive analysis of justice: the board played an ultimatum game against the general public and made what was perceived as an unfair proposal. The proposal was soundly rejected by the public, as usually happens when unfair offers are made in ultimatum games. |
format |
Report |
author |
Baldursson, Fridrik M. |
author_facet |
Baldursson, Fridrik M. |
author_sort |
Baldursson, Fridrik M. |
title |
Réttlæti og sérhagsmunir |
title_short |
Réttlæti og sérhagsmunir |
title_full |
Réttlæti og sérhagsmunir |
title_fullStr |
Réttlæti og sérhagsmunir |
title_full_unstemmed |
Réttlæti og sérhagsmunir |
title_sort |
réttlæti og sérhagsmunir |
publishDate |
2004 |
url |
https://mpra.ub.uni-muenchen.de/14749/ https://mpra.ub.uni-muenchen.de/14749/1/MPRA_paper_14749.pdf |
genre |
Iceland |
genre_facet |
Iceland |
op_relation |
https://mpra.ub.uni-muenchen.de/14749/1/MPRA_paper_14749.pdf Baldursson, Fridrik M. (2004): Réttlæti og sérhagsmunir. Published in: Fjármálatíðindi , Vol. 51, No. 2 (2004): pp. 78-86. |
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1766040537194823680 |