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CAMBRIDGE STUDIES IN ECONOMICS CHOICE AND SOCIETY

J. Rizzo Mario

Oprawa:
TWARDA

Wydawca:
Cambridge University Press

ISBN:
9781107016941

655,20 PLN
Wysyłamy w 35 dni

Opis produktu

Mario J. Rizzo is a professor of Economics Director of the Foundations of the Market Economy Program and CoDirector of the Classical Liberal Institute at New York University. He is the coauthor of Austrian Economics ReExamined: The Economics of Time and Ignorance (2014). He has published in such journals as Journal of Legal Studies the Columbia Law Review and the UCLA Law Review.A powerful critique of nudge theory and the paternalist policies of behavioral economics and an argument for a more inclusive form of rationality.This book carefully dissects the claims of nudge theory and other forms of paternalism based on behavioral economics. The authors reveal how paternalist normative standards are unjustified and why paternalist policymaking is unlikely to produce desirable results arguing instead for a more inclusive theory of rationality in economic policymaking.This book carefully dissects the claims of nudge theory and other forms of paternalism based on behavioral economics. The authors reveal how paternalist normative standards are unjustified and why paternalist policymaking is unlikely to produce desirable results arguing instead for a more inclusive theory of rationality in economic policymaking.The burgeoning field of behavioral economics has produced a new set of justifications for paternalism. This book challenges behavioral paternalism on multiple levels from the abstract and conceptual to the pragmatic and applied. Behavioral paternalism relies on a needlessly restrictive definition of rational behavior. It neglects nonstandard preferences experimentation and selfdiscovery. It relies on behavioral research that is often incomplete and unreliable. It demands a level of knowledge from policymakers that they cannot reasonably obtain. It assumes a political process largely immune to the effects of ignorance irrationality and the influence of special interests and moralists. Overall behavioral paternalism underestimates the capacity of people to solve their own problems while overestimating the ability of experts and policymakers to design beneficial interventions. The authors argue instead for a more inclusive theory of rationality in economic policymaking.1. Introduction: puppets and puppet masters: 2. What is rationality?: 3. Rationality for puppets: 4. Preference biases: 5. The rationality of beliefs: 6. Deficient foundations for behavioral policymaking: 7. Knowledge problems in paternalist policymaking: 8. The political economy of paternalist policymaking: 9. Slippery slopes in paternalist policymaking: 10. Common threads escape routes and paths forward: References: Index.Taking issue with the narrow norms of rationality in much of behavioral economics this remarkable book argues in favor of an inclusive concept of rationality and is one of the first to cover the full range of relevant empirical evidence from psychology. Escaping Paternalism promotes a serious attempt to understand why people do what they do. Ger

Wymiary: 235 mm 157 mm 30 mm 850 gr

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