On the Econ within

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Abstract

This essay examines the critique of behavioral economics that Infante, Lecouteaux and Sugden (ILS) offer in:"Preference Purification and the Inner Rational Agent.” It identifies and questions three main criticisms that ILS make: (i) a methodological criticism, alleging that there is no psychological basis for the attribution of purified preferences, (ii) an epistemological criticism, alleging that there is little evidence for claims about purified preferences, and (iii) a normative criticism, arguing that policies should aim to facilitate people’s choices rather than to satisfy purified preferences. The essay also distinguishes the view of welfare economics defended in Preference, Value, Choice, and Welfare from the claims of behavioral economists ILS criticize.

Original languageEnglish (US)
Pages (from-to)26-32
Number of pages7
JournalJournal of Economic Methodology
Volume23
Issue number1
DOIs
StatePublished - Jan 2 2016
Externally publishedYes

All Science Journal Classification (ASJC) codes

  • Economics, Econometrics and Finance (miscellaneous)

Keywords

  • behavioral economics
  • paternalism
  • preferences
  • welfare economics

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