RT Article
T1 Rationality, REMM, and Individual Value Creation
JF Journal of business ethics
VO 98
IS 4
SP 641
OP 648
A1 Wartiovaara, Markus
LA English
PB Springer Science + Business Media B. V
YR 2011
UL https://www.ixtheo.de/Record/178564095X
AB This article evaluates alternative models for explaining human behavior. In particular, it compares the resourceful, evaluative, maximizing model (REMM) with the economic (or money maximizing) model of human behavior. The theoretical framework is developed to enhance our understanding of “individual value creation” and to seek an economically rational explanation to: Why Warren Buffett is giving his money away to charity? The article develops a framework of biological, material, and immaterial sources of value. The article additionally extends the existing REMM and finds several economically rational reasons for him to give away his money including the present value of help and goodwill, gained control, and lowered transaction costs.
K1 Creation
K1 Value
K1 Individual
K1 REMM
K1 Rationality
K1 Charity
DO 10.1007/s10551-010-0643-6