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Consumer Surplus with Apology : A Historical Perspective on Non-Market Valuation and Recreation Demand
Banzhaf, H. Spencer - 2016
When economists turned to applied benefit-cost analysis in the 1930s and 1940s, they adopted prices as indicators of benefits. This was consistent with both neoclassical economics (in which prices are marginal values) and institutional economics (which favored a plausible market mechanism to...
Persistent link: https://www.econbiz.de/10013000174
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Galilean Reflections on Milton Friedman's 'Methodology of Positive Economics', with Thoughts on Vernon Smith's 'Economics in the Laboratory'
Schliesser, Eric S. - 2009
In this article, the author offers a discussion of the evidential role of the Galilean constant in the history of physics. The author argues that measurable constants help theories constrain data. Theories are engines for research, and this helps explain why the Duhem-Quine thesis does not...
Persistent link: https://www.econbiz.de/10014053311
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Social Psychology and Environmental Economics : A New Look at Ex Ante Corrections of Biased Preference Evaluation
Jacquemet, Nicolas - 2011
commitment theory through an oath …
Persistent link: https://www.econbiz.de/10013130641
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Prescriptivism, Risk Aversion, and Intertemporal Substitution in Climate Economics
Kelleher, J. Paul - 2018
The question of how to discount the distant future has long been at the core of climate economics. It has also divided economists. Some argue for prescriptivist approaches to discounting, often calling for social discount rates of as low as 1% per year. Others argue strongly for descriptivist...
Persistent link: https://www.econbiz.de/10012927790
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Prescriptivism, Risk Aversion, and Intertemporal Substitution in Climate Economics
Kelleher, J. Paul; Wagner, Gernot - 2018
The question of how to discount the distant future has long been at the core of climate economics. It has also divided economists. Some argue for prescriptivist approaches to discounting, often calling for social discount rates of as low as 1% per year. Others argue strongly for descriptivist...
Persistent link: https://www.econbiz.de/10014116319
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The Experimental Turn in Economics : A History of Experimental Economics
Svorenčík, Andrej - 2015
redefining the relationship between economic theory and rigorous data. Replicable data that were specifically created to satisfy … conditions set by theory in controlled environments could not be avoided by economists or explained away as irrelevant to … economic theory. The reconceptualization of the relationship between economic theory and rigorous experimental data culminated …
Persistent link: https://www.econbiz.de/10013028861
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Welfare Economics
Baujard, Antoinette - 2013
the more recent domains of happiness economics, the comparative approach by Amartya Sen, and the theory of fair allocation …
Persistent link: https://www.econbiz.de/10013072739
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Old Chicago Against Static Welfare Economics
Dold, Malte F. - 2019
Although behavioral economics has criticized the empirical accuracy of the neoclassical rationality assumption, it supports the normative view that welfare-increasing choice presupposes stable and context-independent preferences. We argue that this position neglects important features of...
Persistent link: https://www.econbiz.de/10012867654
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Current Trends in Welfare Measurement
Angner, Erik - 2011
The rise of subjective measures of well-being represents at least two important trends in the measurement of welfare or well-being. The first trend, which has already received some attention in the literature, is a shift away from preference-satisfaction accounts of individual well-being and...
Persistent link: https://www.econbiz.de/10014191026
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Handbook of experimental economics results : volume 1
Plott, Charles (contributor); Smith, Vernon L. (contributor) - 2008 - 1st ed.
Experimental methods in economics respond to circumstances that are not completely dictated by accepted theory or … outstanding problems. While the field of economics makes sharp distinctions and produces precise theory, the work of experimental … relevant theory. At a recent conference, a question was asked about where experimental methods might be more useful than field …
Persistent link: https://www.econbiz.de/10012254727