Archivio per dicembre 2013

31
Dic
13

Non-Welfarist Optimal Taxation And Behavioral Public Economics

See on Scoop.itBounded Rationality and Beyond

Research in behavioural economics has uncovered the widespread phenomenon of people making decisions against their own good intentions. In these situations, the government might want to intervene, indeed individuals might want the government to intervene, to induce behaviour that is closer to what individuals wish they were doing. The analysis of such corrective interventions, through taxes and subsidies, might be called ‘behavioural public economics’. However, such analysis, where the government has an objective function that is different from that of individuals, is not new in public economics. In these cases the government is said to be ‘non-welfarist’ in its objectives, and there is a long tradition of non-welfarist welfare economics, especially the analysis of optimal taxation and subsidy policy where the outcomes of individual behaviour are evaluated using a preference function different from the one that generated the outcomes. First of all the object of this paper is to present a unified view of the non-welfarist optimal taxation literature and, second, to present behavioural public economics as a natural special case of this general framework. Copyright 2006 The Authors Journal compilation � 2006 Blackwell Publishing Ltd.

See on ideas.repec.org

Annunci
31
Dic
13

Non-Welfarist Optimal Taxation And Behavioral Public Economics

See on Scoop.itBounded Rationality and Beyond

Research in behavioural economics has uncovered the widespread phenomenon of people making decisions against their own good intentions. In these situations, the government might want to intervene, indeed individuals might want the government to intervene, to induce behaviour that is closer to what individuals wish they were doing. The analysis of such corrective interventions, through taxes and subsidies, might be called ‘behavioural public economics’. However, such analysis, where the government has an objective function that is different from that of individuals, is not new in public economics. In these cases the government is said to be ‘non-welfarist’ in its objectives, and there is a long tradition of non-welfarist welfare economics, especially the analysis of optimal taxation and subsidy policy where the outcomes of individual behaviour are evaluated using a preference function different from the one that generated the outcomes. First of all the object of this paper is to present a unified view of the non-welfarist optimal taxation literature and, second, to present behavioural public economics as a natural special case of this general framework. Copyright 2006 The Authors Journal compilation � 2006 Blackwell Publishing Ltd.

See on ideas.repec.org

31
Dic
13

Understanding the effects of government spending on consumption

See on Scoop.itBounded Rationality and Beyond
Abstract

Recent evidence suggests that consumption rises in response to an increase in government spending. That finding cannot be easily reconciled with existing optimizing business cycle models. We extend the standard new Keynesian model to allow for the presence of rule-of-thumb consumers. We show how the interaction of the latter with sticky prices and deficit financing can account for the existing evidence on the effects of government spending.

See on www.econ.upf.edu

31
Dic
13

Understanding the effects of government spending on consumption

See on Scoop.itBounded Rationality and Beyond
Abstract

Recent evidence suggests that consumption rises in response to an increase in government spending. That finding cannot be easily reconciled with existing optimizing business cycle models. We extend the standard new Keynesian model to allow for the presence of rule-of-thumb consumers. We show how the interaction of the latter with sticky prices and deficit financing can account for the existing evidence on the effects of government spending.

See on econ.upf.edu

31
Dic
13

Learning to Learn: fighting cognitive biases

See on Scoop.itBounded Rationality and Beyond

Critical thinking is an increasingly important skill that has been overlooked by many as information becomes more accessible and superfluous.

See on blog.scoop.it

31
Dic
13

Learning to Learn: fighting cognitive biases

See on Scoop.itBounded Rationality and Beyond

Critical thinking is an increasingly important skill that has been overlooked by many as information becomes more accessible and superfluous.

See on blog.scoop.it

31
Dic
13

Behavioral economics: A methodological note

See on Scoop.itBounded Rationality and Beyond

When a theory faces a set of facts that are not compatible with its key assumptions, there are several ways it might respond. In response to the challenge posed by behavioral economics, neoclassical economics has attempted numerous different approaches. After briefly reviewing these responses, this paper turns to argue in favor of one of them. 

http://www.gwu.edu/~ccps/etzioni/documents/A407%20behavioral%20economics.pdf

See on ideas.repec.org




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