Fabio Petri's Microeconomics for the Critical Mind (2021) is an impressive tour de force in the field of microeconomic theory. It manifests the author's command of cutting edge analytical tools, concepts, and theoretical approaches both in the mainstream and in the heterodox literature. The book...

Fabio Petri's Microeconomics for the Critical Mind (2021) is an impressive tour de force in the field of microeconomic theory. It manifests the author's command of cutting edge analytical tools, concepts, and theoretical approaches both in the mainstream and in the heterodox literature. The book...

Robert Sugden has advanced various critiques of behavioural welfare economics, offering the notion of opportunity as an alternative. We agree with much of Sugden’s critique but argue that his approach would benefit from a broadening of the informational base beyond opportunities to include...

In Fairness versus Welfare (2003), Louis Kaplow and Steven Shavell provide a manifesto for normative law and economics. Therein, they spell out the foundations for contemporary law and economics based on a Paretian consequentialist welfarism and a preferentialist account of welfare. We argue in...

"This book examines the role of normative economics in the writings of Karl Marx, Ludwig von Mises, Milton Friedman and Karl Popper. The book shows that while distinguishing positive from normative economics can be helpful, this distinction should not minimize the importance of normative...

Impact evaluation has become increasingly central to evidence-based social policy, particularly in the field of international development. While the act of evaluation requires numerous ethical decisions (e.g., regarding the problems to investigate, the tools of investigation, and the...

After presenting some casual evidence about the difference between economists and the rest of the population, first the survey and experimental evidence which has been presented on this topic during the last 20 years is discussed. But can these results really be transferred to real world...

This open access book examines from a variety of perspectives the disappearance of moral content and ethical judgment from the models employed in the formulation of modern economic theory, and some of the papers contain important proposals about how moral judgment could be reintroduced in...

The paper refers to Kolodko's new and innovative look at economics and its contemporary aims. The paper is composed of three parts. The first, methodological part includes a discussion of the ultimate aims of economic sciences with the consideration of special features of its subject (economy):...

I Preliminaries: Introduction -- Abstract Social Choiuce Problems and Concrete Resource Allocation Problems -- Describing an Allocation Problem: a Checklist -- II Axiom Types: Axiom Format -- Axiom Content: Delineating Broad Categories -- Axiom Content: Punctual Requirements on Welfare...

A growing body of normative work explores how deference to people's choices might be reconciled with behavioral findings about human error. This work has strong implications for economic analysis of law, cost-benefit analysis, and regulatory policy. in light of behavioral findings, regulators...

The elevation of scarcity to the fundamental economic problem rests on some unstated normative assumptions. These include a political commitment to private property, a methodological commitment to not inquire about taste formation, and the idea that human welfare is roughly equivalent to...

Chapter 1: “Instrumentalism” and Friedman’s Methodology: A Short Objection -- Chapter 2: A Sort of Paretian Liberalism -- Chapter 3: Liberty, Equality, and Impossibility: Some General Results in the Space of “Soft” Preferences -- Chapter 4: The Arrow Paradox with Fuzzy Preferences --...

The paper refers to Kolodko's new and innovative look at economics and its contemporary aims. The paper is composed of three parts. The first, methodological part includes a discussion of the ultimate aims of economic sciences with the consideration of special features of its subject (economy):...

A large and growing literature shows that decision-makers are more likely to select options presented to them as the default. We study the optimal choice of defaults. Our model assumes that decision-makers behave as if there is some cost to selecting any option that is not the default. These...