An Old Measure of Decision-Making Quality Sheds New Light on Paternalism
AbstractDefinitive judgment about the quality of decision-making is made difficult by twin problems of measurement and identification. A measure of decision-making quality is hard to formalize, to quantify, and to make practical for use in a variety of choice environments; and it is difficult to distinguish differences in decision-making quality from unobserved differences in preferences, information, beliefs, or constraints. In this paper, we describe a widely applicable set of tools for theoretical analysis and experimental methods for addressing these problems. These tools and methods can indicate a more targeted approach to ilight paternalismj polices aimed at improving decision-making quality.
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Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.
Volume (Year): 169 (2013)
Issue (Month): 1 (March)
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