Showing 1 - 6 of 6
This paper is concerned with the axiomatic foundation of the revealed preference theory. Many well-known results in literature rest upon the ability to choose over budget sets that contains only 2 or 3 elements, the situations which are not observable in real life. In order to give a more...
Persistent link: https://www.econbiz.de/10010956032
This paper examines the research area identified by Frey and Gallus (Aggregate Effects of Behavioral Anomalies: A New Research Area, 2014) and the relationship between it and the choices that economists make. It supports the Frey and Gallus view that, as a consequence of individuals employing...
Persistent link: https://www.econbiz.de/10010956097
In this paper, we use survey data to analyze the rationality of professional macroeconomic forecasts. We analyze both … used with caution, since even if all individual forecasts are rational the hypothesis of rationality is often rejected by …
Persistent link: https://www.econbiz.de/10005818809
Conjectures about inflation expectations are inextricably linked to our understanding of the relationship between the real and monetary sides of the economy; yet, direct empirical research on the matter has been scarce at best. This paper therefore examines the empirical properties of inflation...
Persistent link: https://www.econbiz.de/10005700546
In mainstream economics individuals are supposed to be driven only by their self-interest. By contrast, surveys clearly show that people do care about fairness in their demand for redistribution. In this article, in the spirit of the new synthesis in moral psychology (Haidt, 2007: The new...
Persistent link: https://www.econbiz.de/10010956115
Much recent research in economics focuses on exploring behavioral anomalies, i.e., systematic deviations from the assumptions of the rationally self-interested model of man. Laboratory studies are used to identify seeming inconsistencies with micro-economic theory on the level of individuals....
Persistent link: https://www.econbiz.de/10010956129