FLEURBAEY, Marc; SCHOKKAERT, Erik - Center for Operations Research and Econometrics (CORE), … - 2011
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. We … partial preferences and that subjective welfare measures do not offer an attractive way out of the impasse. However, their …