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Social and Behavioral Sciences Commons™
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Full-Text Articles in Social and Behavioral Sciences
Behavioural Normative Economics: Foundations, Approaches And Trends, Malte Dold
Behavioural Normative Economics: Foundations, Approaches And Trends, Malte Dold
Pomona Faculty Publications and Research
This article summarises the theoretical foundations, main approaches and current trends in the field of behavioural normative economics. It identifies bounded rationality and bounded willpower as the two core concepts that have motivated the field. Since the concepts allow for individual preferences to be context-dependent and time-inconsistent, they pose an intricate problem for standard welfare analysis. The article discusses the ways in which two prominent approaches - the preference purification approach and the opportunity approach - have tackled the problem. It argues that shortcomings in each of these approaches motivate an agency-centric perspective. The article presents two concrete policy proposals …
Agency Decision-Making For Climate Change: Cost-Benefit Analysis, The Precautionary Principle, And The Bounds Of Rationality, Laura Carr
Pomona Senior Theses
Climate change tests the limits of human understanding of complexity and uncertainty. It challenges assumptions about our presumed power of control over this planet. This paper examines the theory of how governmental executive branch agencies make regulation decisions about climate change using the decision-making methodologies of cost-benefit analysis and the precautionary principle, and as influenced by perceptions of the bounds of human rationality and ability to deal with risk and uncertainty.