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economics has a lot of potential, but that it needs to be guided more by theory. We propose two ways to test theories of …
Persistent link: https://www.econbiz.de/10014085279
economics has a lot of potential, but that it needs to be guided more by theory. We propose two ways to test theories of …
Persistent link: https://www.econbiz.de/10005627769
People not only obtain utility from actual outcomes but also from the conditions which lead to these outcomes. The paper proposes an economic concept of this notion of procedural utility. Preferences beyond outcome can be manifold. We distinguish procedural utility people get from institutions...
Persistent link: https://www.econbiz.de/10005627953
People not only obtain utility from actual outcomes but also from the conditionswhich lead to these outcomes. The paper proposes an economic concept of this notion ofprocedural utility. Preferences beyond outcome can be manifold. We distinguish proceduralutility people get from institutions as...
Persistent link: https://www.econbiz.de/10005868515
We propose that outcome utility and process utility can be distinguished and empirically measured. People gain procedural utility from participating in the political decision-making process itself, irrespective of the outcome. Nationals enjoy both outcome and process utility, while foreigners...
Persistent link: https://www.econbiz.de/10011398899
People not only obtain utility from actual outcomes but also from the conditions which lead to these outcomes. The paper proposes an economic concept of this notion of procedural utility. Preferences beyond outcome can be manifold. We distinguish procedural utility people get from institutions...
Persistent link: https://www.econbiz.de/10014070501
We propose that outcome utility and process utility can be distinguished and empirically measured. People gain procedural utility from participating in the political decision-making process itself, irrespective of the outcome. Nationals enjoy both outcome and process utility, while foreigners...
Persistent link: https://www.econbiz.de/10013320991
some of the consequences for economic policy and for economic theory. …
Persistent link: https://www.econbiz.de/10011398921
some of the consequences for economic policy and for economic theory …
Persistent link: https://www.econbiz.de/10013320949
Cross-disciplinary 'happiness research' has made big progress in the measurement of individual welfare. This development makes it tempting to pursue the old dream of maximizing aggregate happiness as a social welfare function. However, we postulate that the appropriate approach is not to...
Persistent link: https://www.econbiz.de/10014055391