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  1.  32
    Preference Purification and the Inner Rational Agent: A Critique of the Conventional Wisdom of Behavioural Welfare Economics.Gerardo Infante, Guilhem Lecouteux & Robert Sugden - 2016 - Journal of Economic Methodology 23 (1):1-25.
    Neoclassical economics assumes that individuals have stable and context-independent preferences, and uses preference satisfaction as a normative criterion. By calling this assumption into question, behavioural findings cause fundamental problems for normative economics. A common response to these problems is to treat deviations from conventional rational choice theory as mistakes, and to try to reconstruct the preferences that individuals would have acted on, had they reasoned correctly. We argue that this preference purification approach implicitly uses a dualistic model of the human (...)
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    ‘On the Econ Within’: A Reply to Daniel Hausman.Gerardo Infante, Guilhem Lecouteux & Robert Sugden - 2016 - Journal of Economic Methodology 23 (1):33-37.
    This note replies to a comment by Daniel Hausman on our paper ‘Preference purification and the inner rational agent: a critique of the conventional wisdom of behavioural welfare economics’. We clarify our characterisation of behavioural welfare economics and acknowledge that Hausman does fully endorse this approach. However, we argue that Hausman’s response to our critique, like behavioural welfare economics itself, implicitly uses a model of an inner rational agent.
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    Comparing Behavior Under Risk and Under Ambiguity in a Lifecycle Experiment.Enrica Carbone & Gerardo Infante - 2014 - Theory and Decision 77 (3):313-322.
    Experiments on intertemporal consumption typically show that people have difficulties in optimally solving such problems. Previous studies have focused on contexts in which agents are faced with risky future incomes and have to plan over long horizons. We present an experiment comparing decision making under certainty, risk, and ambiguity, over a shorter lifecycle. Results show that behavior in the ambiguity treatment is markedly different than in the risk condition and it is characterized by a significant pattern of under-consumption.
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    Individual Vs. Group Decision-Making: An Experiment on Dynamic Choice Under Risk and Ambiguity.Enrica Carbone, Konstantinos Georgalos & Gerardo Infante - 2019 - Theory and Decision 87 (1):87-122.
    This paper focuses on the comparison of individual and group decision-making, in a stochastic inter-temporal problem in two decision environments, namely risk and ambiguity. Using a consumption/saving laboratory experiment, we investigate behaviour in four treatments: individual choice under risk; group choice under risk; individual choice under ambiguity and group choice under ambiguity. Comparing decisions within and between decision environments, we find an anti-symmetric pattern. While individuals are choosing on average closer to the theoretical optimal predictions, compared to groups in the (...)
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