Opportunity and Preference Learning
Robert Sugden has recently elaborated upon the case for a normative standard of freedom as "opportunity" that is supposed to cope with the problem of how to realign normative economics - with its traditional rational choice orientation - with behavioral economics. His standard, though, presupposes that people respond to uncertainty about their own future preferences by dismissing any kind of self-commitment. We argue that the approach lacks psychological substance: Sugden's normative benchmark - the "responsible person" - is a purely artificial construct that can hardly serve as a convincing role model in a contractarian setting. An alternative concept is introduced, and some policy implications are briefly discussed.
|Date of creation:||18 Apr 2012|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.uni-marburg.de/fb19/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Nathan Berg & Gerd Gigerenzer, 2007. "Psychology Implies Paternalism? Bounded Rationality may Reduce the Rationale to Regulate Risk-Taking," Social Choice and Welfare, Springer, vol. 28(2), pages 337-359, February.
- B. Douglas Bernheim & Antonio Rangel, 2008.
"Beyond Revealed Preference: Choice Theoretic Foundations for Behavioral Welfare Economics,"
NBER Working Papers
13737, National Bureau of Economic Research, Inc.
- Douglas Bernheim & Antonio Rangel, 2007. "Beyond Revealed Preference Choice Theoretic Foundations for Behavioral Welfare Economics," Discussion Papers 07-031, Stanford Institute for Economic Policy Research.
- Christian Cordes & Christian Schubert, 2011.
"Role Models that Make You Unhappy: Light Paternalism, Social Learning and Welfare,"
Papers on Economics and Evolution
2010-22, Philipps University Marburg, Department of Geography.
- Schubert, Christian & Cordes, Christian, 2013. "Role models that make you unhappy: light paternalism, social learning, and welfare," Journal of Institutional Economics, Cambridge University Press, vol. 9(02), pages 131-159, June.
- Ben McQuillin & Robert Sugden, 2012.
"How the market responds to dynamically inconsistent preferences,"
Social Choice and Welfare,
Springer, vol. 38(4), pages 617-634, April.
- Ben McQuillin & Robert Sugden, 2011. "How the market responds to dynamically inconsistent preferences," Working Paper series, University of East Anglia, Centre for Behavioural and Experimental Social Science (CBESS) 11-04, School of Economics, University of East Anglia, Norwich, UK..
- Mozaffar Qizilbash, 2011. "Sugden’s critique of Sen’s capability approach and the dangers of libertarian paternalism," International Review of Economics, Springer, vol. 58(1), pages 21-42, March.
- Paul Anand & Alastair Gray, 2009. "Obesity as Market Failure: Could a 'Deliberative Economy' Overcome the Problems of Paternalism?," Kyklos, Wiley Blackwell, vol. 62(2), pages 182-190, 04.
- Ulrich Witt, 2006. "Evolutionary Economics," Papers on Economics and Evolution 2006-05, Philipps University Marburg, Department of Geography.
- Ben McQuillin & Robert Sugden, 2012. "Reconciling normative and behavioural economics: the problems to be solved," Social Choice and Welfare, Springer, vol. 38(4), pages 553-567, April.
- Frank, Robert H., 2008. "Should public policy respond to positional externalities?," Journal of Public Economics, Elsevier, vol. 92(8-9), pages 1777-1786, August.
- Sugden, Robert, 2009. "Market simulation and the provision of public goods: A non-paternalistic response to anomalies in environmental evaluation," Journal of Environmental Economics and Management, Elsevier, vol. 57(1), pages 87-103, January.
- Joseph A. Schumpeter, 1949. "English Economists and the State-Managed Economy," Journal of Political Economy, University of Chicago Press, vol. 57, pages 371.
- Hume, David, 1739. "A Treatise of Human Nature (II) Of the Passions," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 2, number hume1739a.
- Ted O'Donoghue & Matthew Rabin, 1996.
"Doing It Now or Later,"
1172, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Ted O'Donoghue and Matthew Rabin ., 1997. "Doing It Now or Later," Economics Working Papers 97-253, University of California at Berkeley.
- O'Donoghue, Ted & Rabin, Matthew, 1997. "Doing It Now or Later," Department of Economics, Working Paper Series qt7t44m5b0, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- B. Douglas Bernheim & Antonio Rangel, 2009. "Beyond Revealed Preference: Choice-Theoretic Foundations for Behavioral Welfare Economics-super-," The Quarterly Journal of Economics, MIT Press, vol. 124(1), pages 51-104, February.
- Robert Sugden, 2004. "The Opportunity Criterion: Consumer Sovereignty Without the Assumption of Coherent Preferences," American Economic Review, American Economic Association, vol. 94(4), pages 1014-1033, September.
- Akerlof, George A & Dickens, William T, 1982. "The Economic Consequences of Cognitive Dissonance," American Economic Review, American Economic Association, vol. 72(3), pages 307-19, June.
- Mozaffar Qizilbash, 2012. "Informed desire and the ambitions of libertarian paternalism," Social Choice and Welfare, Springer, vol. 38(4), pages 647-658, April.
- Hume, David, 1740. "A Treatise of Human Nature (III) Of Morals," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 3, number hume1740.
- Robert Sugden, 2007. "The value of opportunities over time when preferences are unstable," Social Choice and Welfare, Springer, vol. 29(4), pages 665-682, December.
- Ulrich Witt, 2010. "Economic Behavior - Evolutionary vs. Behavioral Perspectives," Papers on Economics and Evolution 2010-17, Philipps University Marburg, Department of Geography.
- Scott Beaulier & Bryan Caplan, 2007. "Behavioral Economics and Perverse Effects of the Welfare State," Kyklos, Wiley Blackwell, vol. 60(4), pages 485-507, November.
- Christian Schubert, 2012. "Pursuing Happiness," Papers on Economics and Evolution 2012-01, Philipps University Marburg, Department of Geography.
- Richard M. Ryan & Veronika Huta & Edward Deci, 2008. "Living well: a self-determination theory perspective on eudaimonia," Journal of Happiness Studies, Springer, vol. 9(1), pages 139-170, January.
- Schelling, Thomas C, 1984. "Self-Command in Practice, in Policy, and in a Theory of Rational Choice," American Economic Review, American Economic Association, vol. 74(2), pages 1-11, May.
- Sally, David, 2000. "I, Too, Sail Past: Odysseus and the Logic of Self-Control," Kyklos, Wiley Blackwell, vol. 53(2), pages 173-200.
- Caplan, Bryan, 2001. " Rational Irrationality and the Microfoundations of Political Failure," Public Choice, Springer, vol. 107(3-4), pages 311-31, June.
- Cass R. Sunstein & Richard H. Thaler, 2003. "Libertarian paternalism is not an oxymoron," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 48(Jun).
- Elias L. Khalil, 2010. "Adam Smith'S Concept Of Self-Command As A Solution To Dynamic Inconsistency And The Commitment Problem," Economic Inquiry, Western Economic Association International, vol. 48(1), pages 177-191, 01.
- Robert Sugden, 2004. "Living with unfairness: The limits of equal opportunity in a market economy," Social Choice and Welfare, Springer, vol. 22(1), pages 211-236, 02.
- Robert Sugden, 2008. "Why incoherent preferences do not justify paternalism," Constitutional Political Economy, Springer, vol. 19(3), pages 226-248, September.
- Sugden, Robert, 2010. "Opportunity As Mutual Advantage," Economics and Philosophy, Cambridge University Press, vol. 26(01), pages 47-68, March.
- Schnellenbach, Jan, 2012. "Nudges and norms: On the political economy of soft paternalism," European Journal of Political Economy, Elsevier, vol. 28(2), pages 266-277.
When requesting a correction, please mention this item's handle: RePEc:esi:evopap:2012-08. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christoph Mengs)
If references are entirely missing, you can add them using this form.