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| Author: | Wartiovaara, M. |
| Title: | Rationality, REMM, and individual value creation |
| Journal: | Journal of Business Ethics
2011 : FEB II, VOL 98:4, p. 641-648 |
| Index terms: | individual behaviour rationality charities |
| Language: | eng |
| Abstract: | The purpose of the paper is to compare different models that explain behavior, especially the resourceful, evaluative, maximizing model (REMM) and the economic / money maximizing model of behavior. The author constructs a framework of biological, material and immaterial sources of value, to provide a better understanding of "individual value creation". The article seeks an economically rational answer to the question: Why Warren Buffett is giving away his money for charity? The rational reasons found in the article include the present value of help and goodwill, gained control, and lowered transaction costs. |
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