€™ preferences in the context of making intrapersonal and interpersonal comparisons for social evaluation has important and somewhat … and malevolent. Third, in the context of risk, relying on ex ante preferences may clash with a concern for ex post … preferences, which are better informed. Fourth, focusing on opportunities or capabilities may fail to respect preferences. …

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 …