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 … agree with Bernheim (2009) and Bernheim and Rangel (2009) that behavioral economics is compatible with consistency of …