The Community of Advantage asks how economists should do normative analysis.
Normative analysis in economics has usually aimed at satisfying individuals' preferences. Its …

Economic theory tells us how to evaluate the expected welfare gain from insurance products
on offer to individuals. If we know the risk preferences of the individual, and subjective …

In the philosophy of science why-questions are a way to address the foundations of scientific
explanation. For Bas van Fraassen (1980), a theory of explanation is essentially a theory of …

Behavioral economics poses a challenge for the welfare evaluation of choices, particularly
those that involve risk. It demands that we recognize that the descriptive account of behavior …

Much behavioral welfare economics assumes that expected utility theory (EUT) does not
accurately describe most human choice under risk. A substantial literature instead evaluates …

While behavioral economics has had a major impact on positive theorizing in economics, it
remains unclear what exactly those new insights about deviations from rational choice mean …

Behavioral economics poses a challenge for the welfare evaluation of insurance products
and policy. It demands that we recognize that the descriptive account of behavior toward …

I study the problem of a persuader who proposes a set of models to manipulate how a
boundedly rational agent interprets observable signal realizations. The persuader does not …

A nudge is a paternalistic government intervention that attempts to improve choices by
changing the framing of a decision problem. We propose a welfare-theoretic foundation for …

Behavioural economics has not only posed serious challenges for the empirical adequacy of
rational choice, but also for its normative status. Since the 1990s, a large body of work has …