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The community of advantage : a behavioural economist's defence of the market

Author: Robert Sugden
Publisher: Oxford, United Kingdom : Oxford University Press, 2018. ©2018
Edition/Format:   eBook : Document : English : First editionView all editions and formats
Summary:
Normative analysis in economics usually aims at satisfying individuals' preferences, valuing economic freedom and viewing markets favourably. Behavioural research, however, shows that individuals' preferences are often unstable. Robert Sugden proposes a reformulation of normative economics compatible with psychology of choice.
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Sugden, Robert.
Community of advantage : a behavioural economist's defence of the market.
Oxford, United Kingdom : Oxford University Press, 2018
(OCoLC)1013741826
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Robert Sugden
ISBN: 9780192558787 0192558781 9780191863813 0191863815
OCLC Number: 1042074490
Description: 1 online resource
Contents: Cover; The Community of Advantage: A Behavioural Economist's Defence of the Market; Copyright; Preface; Contents; List of Figures; Sources of Material; 1: The Liberal Tradition and the Challenge from Behavioural Economics; 1.1 Mill and the Community of Advantage; 1.2 Neoclassical Welfare Economics; 1.3 The Challenge from Behavioural Economics; 1.4 Reconciling Normative and Behavioural Economics; 2: The View from Nowhere; 2.1 The Impartial Spectator; 2.2 The Benevolent Autocrat; 2.3 Public Reasoning; 3: The Contractarian Perspective; 3.1 Hobbes's Contractarianism; 3.2 Hume's Contractarianism. 3.3 The Contractarian Perspective3.4 Why a Contractarian Cannot be a Paternalist; 3.5 The Four Alls; 4: The Inner Rational Agent; 4.1 Behavioural Welfare Economics: The New Consensus; 4.2 Autonomy and the Model of the Inner Rational Agent; 4.3 System 1 and System 2; 4.4 Does the Concept of Latent Preference Have Empirical Content?; 4.5 SuperReasoner in the Cafeteria; 4.6 Savage and Allais; 4.7 Purifying Allais Paradox Preferences; 4.8 Akrasia; 4.9 Summing up; 5: Opportunity; 5.1 The Individual Opportunity Criterion; 5.2 Preference-satisfaction; 5.3 'Mere' Preferences? 5.4 Opportunity when Preferences are Liable to Change5.5 The Continuing Person; 5.6 Responsibility; 6: The Invisible Hand; 6.1 The Basic Idea; 6.2 Exchange Economies; 6.3 The Interactive Opportunity Criterion; 6.4 The Strong Interactive Opportunity Criterion; 6.5 Competitive Equilibrium; 6.6 The Strong Market Opportunity Theorem; 6.7 Production; 6.8 Storage Economies; 6.9 The Wine Economy and the Responsible Agent; 6.10 How the Invisible Hand Works; 7: Regulation; 7.1 Neoclassical Arguments for Regulation; 7.2 Choice Overload; 7.3 Self-constraint; 7.4 Obfuscation. 7.5 Fixed Costs and Price Discrimination7.6 Public Goods; 7.7 Otto per Mille; 8: Psychological Stability; 8.1 Equality of Opportunity; 8.2 The Division of Knowledge; 8.3 The Other Invisible Hand; 8.4 Why Markets Cannot Be Fair; 8.5 Looking Forward; 8.6 Can Everyone Expect to Benefit from the Market?; 8.7 Underwriting Expectations of Mutual Benefit; 9: Intrinsic Motivation, Kindness, and Reciprocity; 9.1 The Virtue-ethical Critique of the Market; 9.2 Intrinsic Motivation and Crowding-out; 9.3 Reciprocity: The Experimental Evidence; 9.4 Reciprocity and Social Preferences. 9.5 Reciprocity and Social Norms9.6 Escaping from the Paradox of Trust; 10: Cooperative Intentions; 10.1 Team Reasoning; 10.2 Practices; 10.3 Voluntariness in a Simple Model; 10.4 Voluntariness Generalized; 10.5 Intending Mutual Benefit; 10.6 Four Examples; 11: The Principle of Mutual Benefit; 11.1 Morality and Norms; 11.2 A Contractarian Perspective on Morality; 11.3 The Principle of Mutual Benefit; 11.4 How the Principle of Mutual Benefit can be Self-sustaining; 11.5 A Question too Far; 11.6 Correspondence of Sentiments; 11.7 The Community of Advantage; Endnotes.
Responsibility: Robert Sugden.

Abstract:

Normative analysis in economics usually aims at satisfying individuals' preferences, valuing economic freedom and viewing markets favourably. Behavioural research, however, shows that individuals'  Read more...

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Can liberty be preserved while people are nudged to avoid decision errors they say they do not want to make? Read Robert Sugden, a classical liberal behavioural economist, on how opportunities for Read more...

 
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