Economic Welfare

Predictive Power in Behavioral Welfare Economics

Revealed preferences are a potentially powerful tool for conducting welfare analyses, but due to forces such as behavioral biases, 'irrational behaviors' such as non-transitivity (i.e., cycles of preferences) can appear in revealed preferences, which …

Predictive Power in Behavioral Welfare Economics

Revealed preferences are a potentially powerful tool for conducting welfare analyses, but due to forces such as behavioral biases, 'irrational behaviors' such as non-transitivity (i.e., cycles of preferences) can appear in revealed preferences, which …