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Essays On Boundedly Rational Choice., Tanmoy Das Dr.
Essays On Boundedly Rational Choice., Tanmoy Das Dr.
Doctoral Theses
Decision theory or the theory of choice is the analysis of individual behavior, typically in noninteractive situations. We can conceptualize two types of decision theory - normative and descriptive. A normative theory is concerned with identifying the best decision to make, modeling a decision maker who comports to certain ideals. A descriptive theory is a theory about how decisions are made. Such a theory is concerned with explaining observed behavior or predicting behavior under the assumption that the decision-maker or decision process follows some rules. The predictions about behavior that descriptive theory produces allow further tests of the assumed underlying, …
Essays On Applied Welfare Economics., Sutirtha Bandyopadhyay Dr.
Essays On Applied Welfare Economics., Sutirtha Bandyopadhyay Dr.
Doctoral Theses
The measurement of welfare forms the foundation of public policy analysis. It is an area where empirical investigations clearly benefits from theoretical insight and where theoretical concepts are brought alive and appropriately focused by the discipline of empirical relevance and policy design. While welfare measurement at the micro level is of independent interest, of greater concern is the well-being of groups of households/individuals.A widely discussed issue in the literature of welfare economics is ‘whose welfare to measure’ when we are interested to measure the well-being of a group of individuals. The most common approach is to assume the existence of …