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...

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):...

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):...

Calculating the welfare implications of changes to economic policy or shocks requires economists to decide on a normative criterion. One approach is to elicit the relevant moral criteria from real-world policy choices, converting a normative decision into a positive inference, as in the recent...

Calculating the welfare implications of changes to economic policy or shocks requires economists to decide on a normative criterion. One approach is to elicit the relevant moral criteria from real-world policy choices, converting a normative decision into a positive inference, as in the recent...

Recommended readings (Machine generated): 1. John E. Roemer (1986), 'Equality of Resources Implies Equality of Welfare', Quarterly Journal of Economics, 101 (4), November, 751-84 -- 2. Marc Fleurbaey (1995), 'Three Solutions for the Compensation Problem', Journal of Economic Theory, 65 (2),...

Economics is not only a means of interpreting the past, but it must become an instrument for shaping the future, too. It should show inevitable future economic processes, with their links to culture, technology, and environment. With theoretical knowledge of this area, strategies of...

An important difficulty in many models of behavioral economics is that preferences are endogenous and unstable. Therefore, preferences may not provide the most desirable yardstick to evaluate social states. This paper proposes unconditional love as a candidate for such a yardstick. The concept...

Economists are political philosophers. This claim is defended based on an investigation of normative arguments made in economics textbooks. The paper aims to explain, reconstruct and contest the neoclassical vision implicit in mainstream economic trade theory. Analyzing arguments made by...

In this paper I present an asymmetric version of the familiar public goods classroom experiment, in which some players are given more tokens to invest than others, and players collectively decide whether to divide the return to the group investment asymmetrically as well. The asymmetry between...

In this essay (which forms part of a collection celebrating the 50th anniversary of the publication of “The Problem of Social Cost”) I focus on a particular characteristic of Ronald Coase's work, as exhibited in “The Problem of Social Cost”: his ability to force upon his audience a...

The concept of money is regarded as difficult and complex. Today, lawyers leave the discussion of money to economists. Economists see money as a creation of the law and quietly presuppose its existence, so much so that money has disappeared as a separate entity in micro-economic models of market...

As a result of the disenchantment with traditional income-based measures of welfare, alternative welfare measures have gained increasing attention in recent years. Two of the most prominent measures of well-being come from subjective well-being research and the (objective) capability approach....

As a result of the disenchantment with traditional income-based measures of welfare, alternative welfare measures have gained increasing attention in recent years. Two of the most prominent measures of well-being come from subjective well-being research and the (objective) capability approach....