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Welfare economics and bounded rationality : The case for model-based approaches

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dc.contributor.authorManzini, Paola
dc.contributor.authorMariotti, Marco
dc.date.accessioned2016-04-07T23:02:01Z
dc.date.available2016-04-07T23:02:01Z
dc.date.issued2014-12
dc.identifier.citationManzini , P & Mariotti , M 2014 , ' Welfare economics and bounded rationality : The case for model-based approaches ' , Journal of Economic Methodology , vol. 21 , no. 4 , pp. 343-360 . https://doi.org/10.1080/1350178X.2014.965909en
dc.identifier.issn1350-178X
dc.identifier.otherPURE: 148943056
dc.identifier.otherPURE UUID: 83b40b41-76e4-4cca-baaf-7aeb6258dbea
dc.identifier.otherScopus: 84919846745
dc.identifier.urihttps://hdl.handle.net/10023/8577
dc.descriptionMariotti gratefully acknowledges financial support through a Leverhulme Fellowship. Both authors acknowledge financial support from the ESRC through grant RES-000-22-3474.en
dc.description.abstractIn this paper we examine the problems facing a policy maker who observes inconsistent choices made by agents who are boundedly rational. We contrast a model-less and a model-based approach to welfare economics. We make the case for the model-based approach and examine its advantages as well as some problematic issues associated with it.
dc.language.isoeng
dc.relation.ispartofJournal of Economic Methodologyen
dc.rights© 2014 Taylor & Francis This is an Accepted Manuscript of an article published in Journal of Economic Methodology on 8 October 2014, available online: http://www.tandfonline.com/10.1080/1350178X.2014.965909en
dc.subjectBounded rationalityen
dc.subjectWelfareen
dc.subjectChoice theoryen
dc.subjectHB Economic Theoryen
dc.subject.lccHBen
dc.titleWelfare economics and bounded rationality : The case for model-based approachesen
dc.typeJournal articleen
dc.contributor.sponsorEconomic & Social Research Councilen
dc.description.versionPostprinten
dc.contributor.institutionUniversity of St Andrews. School of Economics and Financeen
dc.identifier.doihttps://doi.org/10.1080/1350178X.2014.965909
dc.description.statusPeer revieweden
dc.date.embargoedUntil2016-06-01
dc.identifier.grantnumberES/J012513/1en


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