Projects per year
Abstract
In this paper we examine the problems facing a policy maker who observes inconsistent choices made by agents who are boundedly rational. We contrast a model-less and a model-based approach to welfare economics. We make the case for the model-based approach and examine its advantages as well as some problematic issues associated with it.
Original language | English |
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Pages (from-to) | 343-360 |
Journal | Journal of Economic Methodology |
Volume | 21 |
Issue number | 4 |
Early online date | 8 Oct 2014 |
DOIs | |
Publication status | Published - Dec 2014 |
Keywords
- Bounded rationality
- Welfare
- Choice theory
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Dive into the research topics of 'Welfare economics and bounded rationality: The case for model-based approaches'. Together they form a unique fingerprint.Projects
- 1 Finished
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CHOICE WITH ERRORS: Choice with Errors
Manzini, P. (PI) & Mariotti, M. (CoI)
Economic & Social Research Council
1/09/12 → 31/08/15
Project: Standard