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Using Experimental Method to Elicit Consumer Preferences for Public Decision

Robin, Stéphane; Rozan, Anne; Ruffieux, Bernard - 2011

Individual preferences must be evaluated to take into account the citizens' interests for public decisions. Usually, economists assess individual preferences through market decisions. But more often, public decisions impact goods without market prices. Without a market to refer to, evaluating...

Persistent link: https://www.econbiz.de/10014223152

Relative Deprivation in China

Chen, Xi - 2014

Relative deprivation (RD), also known as relative poverty, an idea implicitly put forward by Adam Smith in The Wealth of Nations and formally conceptualized by Runciman (1966), refers to the discontent people feel when they compare their positions to others and realize that others in the group...

Persistent link: https://www.econbiz.de/10014155344

Economics, Psychology and the History of Consumer Choice Theory

Hands, D. Wade - 2016

This paper examines elements of the complex place/role/influence of psychology in the history of consumer choice theory …. The paper reviews, and then challenges, the standard narrative that psychology was "in" consumer choice theory early in … between psychology and consumer choice theory. It concludes by discussing some of the implications of this complex history …

Persistent link: https://www.econbiz.de/10014050403

Implementation Rationality : The Nexus of Psychology and Economics at the RAND Logistics Systems Laboratory, 1956-1966

Klein, Judy - 2015

In October 1956, the RAND Corporation established the Logistics Systems Laboratory (LSL) with the goal of using simulation to translate the broad findings of normative microeconomics into detailed, implementable procedures for US Air Force operations. The laboratory was housed in the training...

Persistent link: https://www.econbiz.de/10013015484

James Buchanan on the Nature of Choice : Ontology, Artifactual man, and the Constitutional Moment in Political Economy

Lewis, Paul A. - 2019

Historians of economic thought are paying greater attention to issues of social ontology (that is, to the assumptions that economists make about the nature of social reality). In this paper, we contribute to this burgeoning literature by exploring the hitherto neglected way in which James...

Persistent link: https://www.econbiz.de/10012868240

Implementation rationality : the nexus of psychology and economics at the RAND logistics systems laboratory, 1956-1966s

Klein, Judy L. - 2015 - Version 3

In October 1956, the RAND Corporation establis hed the Logistics Systems Laboratory (LSL) with the goal of using simulation to translate the broad findings of normative microeconomics into detailed, implementable pr ocedures for US Air Force oper ations. The laboratory was housed in the training...

Persistent link: https://www.econbiz.de/10011600635

Herbert A. Simon and Contemporary Theories of Bounded Rationality

Fiori, Stefano - 2009

Simon's heterodox theory, only partially accept the teachings of their inspirer, splitting bounded rationality from the …

Persistent link: https://www.econbiz.de/10014209664

Differences across countries and time in household expenditure patterns : implications for the estimation of equivalence scales

Daley, Angela; Garner, Thesia Isedora; Phipps, Shelley A.; … - 2020

When comparing economic well-being using income or expenditures, an equivalence scale is often used to adjust for differences in characteristics that affect needs. For example, a family of two is assumed to need more income than a single person, but not twice as much due to the economies of...

Persistent link: https://www.econbiz.de/10012213964

The Economic Man and Rationality in Adam Smith

D'Elia, Vanesa V. - 2010

The assumption of rationality is central in current economic theory. This hypothesis is the pillar for the creation of … the homo economicus of conventional theory. Starting with Adam Smith’s approach to rationality, the aim of this paper is …

Persistent link: https://www.econbiz.de/10014199151

The Hobson-Marshall Controversy on the Marginal Product of Labor

Yndgaard, Ebbe - 1998

On the occasion of the one hundred years' anniversary an unsettled dispute between John Hobson and Alfred Marshall is revived. The paper argues that Marshall misunderstood Hobson, who by claiming that the choice of technique is endogenous arrives at the conclusion that marginal labor is an...

Persistent link: https://www.econbiz.de/10014066170

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