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Scitovsky, behavioural economics, and beyond

Pugno, Maurizio - In: Economics: The Open-Access, Open-Assessment E-Journal 8 (2014) 2014-24, pp. 1-29

Scitovsky is known as a forerunner of behavioural economics simply because he drew heavily on psychology and claimed … that people's choices may be "joyless" (Scitovsky, The joyless economy, 1976). However, a careful reformulation of his … new lines of inquiry from an original and different perspective. These insights of Scitovsky regard the following aspects …

Persistent link: https://www.econbiz.de/10010378318

Scitovsky, behavioural economics, and beyond

Pugno, Maurizio - 2013

By revisiting Scitovsky's work on well-being, which introduces 'novelty' into the consumer's option set as a peculiar … lines on inquiry. First, similarly to behavioural economics, Scitovsky used psychology to interpret sub-optimal choices …. However, his welfare benchmark is different from rational choice, as understood by the economists, because 'novelty' implies a …

Persistent link: https://www.econbiz.de/10010322500

Uncertainty in Neoclassical and Keynesian Theoretical Approaches: A Behavioural Perspective

Baltatescu, Sinziana - In: CES Working Papers 7 (2015) 3, pp. 682-688

The ”mainstream” neoclassical assumptions about human economic behavior are currently challenged by both behavioural researches on human behaviour and other theoretical approaches which, in the context of the recent economic and financial crisis find arguments to reinforce their theoretical...

Persistent link: https://www.econbiz.de/10012017247

What drives binge-watching? An economic theory and analysis of impact factors

Gänßle, Sophia; Kunz-Kaltenhaeuser, Philipp - 2020

Behavioral patterns in media consumption are changing. With the upcoming of video-on-demand platforms, so-called "binge-watching" gained broad awareness. To the best of our knowledge, this is the first economic analysis explicitly on binge-watching. We approach the phenomenon by arguing that it...

Persistent link: https://www.econbiz.de/10012201826

A retrospective on Friedman's theory of permanent income

Meghir, Costas - 2004

Friedman's book on the Óƒonsumption FunctionÔ is one of the great works of Economics demonstrating how the interplay between theoretical ideas and data analysis could lead to major policy implications. We present a short review of Friedman's Permanent Income Hypothesis, the origins of the...

Persistent link: https://www.econbiz.de/10010292935

Ragnar Frisch's axiomatic approach to econometrics

Bjerkholt, Olav - 2012

Ragnar Frisch's concept of econometrics was broader in scope than the more restricted connotation it has today as a sub-discipline of economics, it may be more properly rendered as a reconstruction of economics along principles inspired and drawn from natural sciences. In this reconstruction an...

Persistent link: https://www.econbiz.de/10010330251

The Sidney Siegel tradition: The divergence of behavioral and experimental economics at the end of the 1980s

Svorenécík, Andrej - 2016

Over two days in February 1988, several key experimental economists and cognitive psychologists met to explore the possibilities of joint research promoted by the Sloan and Russell Sage Foundations under the rubric behavioral economics. The original vision that the meeting could open a line of...

Persistent link: https://www.econbiz.de/10011613802

Taxation of unhealthy food consumption and the intensive versus extensive margin of obesity

Kalamov, Zarko Y.; Runkel, Marco - In: International Tax and Public Finance 29 (2021) 5, pp. 1294-1320

If an individual's health costs are U-shaped in weight with a minimum at some healthy level and if the individual has both self-control problems and rational motives for over- or underweight, the optimal paternalistic tax on calorie intake mitigates the individual's weight problem (intensive...

Persistent link: https://www.econbiz.de/10014501872

Choice, deferral, and consistency

Costa-Gomes, Miguel A.; Cueva, Carlos; Gerasimou, Georgios - In: Quantitative Economics 13 (2022) 3, pp. 1297-1318

We report on two novel choice experiments with real goods where subjects in one treatment are forced to choose, as is the norm in economic experiments, while in the other they are not but can instead incur a small cost to defer choice. Using a variety of measures, we find that the active choices...

Persistent link: https://www.econbiz.de/10014536896

Stability of time preferences

Meier, Stephan; Sprenger, Charles D. - 2010

Individuals frequently face intertemporal decisions. For the purposes of economic analysis, the preference parameters assumed to govern these decisions are generally considered to be stable economic primitives. However, evidence on the stability of time preferences is notably lacking. In a large...

Persistent link: https://www.econbiz.de/10010269424