Fleurbaey, Marc; Schokkaert, Erik - Becker Friedman Institute for Research in Economics, … - 2012
Behavioral economics has shaken the view that individuals have well-defined, consistent and stable preferences. This … raises a challenge for welfare economics, which takes as a key postulate that individual preferences should be respected … behavioral economics is compatible with consistency of partial preferences. While Bernheim and Rangel have focused on how to …