Overview
- Deconstructs the assumptions of neoclassical choice theory
- Distinguishes between behaviors and chosen behaviors
- Weaves other behavioral theories and ethics into a discussion about economics
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About this book
Neoclassical economists assume that people act to maximize their well-being: they choose based on their desires and only desire what they will like. Neuroscientists and psychologists disagree. Their research demonstrates that cues and evolutionary quirks cause people to act against their best interests, even choosing alternatives they will not like.
In this book, Edward R. Morey contrasts neoclassical choice theory with behavioral models and findings in psychology, neuroscience, evolutionary biology, and animal behavior. The book addresses the fundamental idea within economics that behaviors are chosen, and it explains why other disciplines disagree. The chapters touch on modeling behavior, judging behavior, and policies.
Morey breaks down judgment using the ethics of welfare economics, and it compares and contrasts this recognized approach with others, including Mill’s liberalism, virtue ethics, duty-based ethics, Buddhist ethics, and utilitarianism.
Keywords
Table of contents (14 chapters)
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Front Matter
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Neoclassical Choice Theory and Welfare Economics
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Front Matter
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Wanting, Liking, Well-Being, and Incommensurability
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Front Matter
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Behavioral Quirks
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Front Matter
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Choice or the Illusion-Of-Choice?
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Front Matter
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Most Moral Philosophers Are Not Welfare Consequentialists, so What Are They?
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Front Matter
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Authors and Affiliations
About the author
Edward R. Morey is a Professor Emeritus at the University of Colorado, Boulder, USA. His research has centered on modeling and estimating individual behavior.
Bibliographic Information
Book Title: Deconstructing Behavior, Choice, and Well-being
Book Subtitle: Neoclassical Choice Theory and Welfare Economics
Authors: Edward R. Morey
DOI: https://doi.org/10.1007/978-3-031-36712-0
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2023
Hardcover ISBN: 978-3-031-36711-3Published: 04 November 2023
Softcover ISBN: 978-3-031-36714-4Due: 17 November 2024
eBook ISBN: 978-3-031-36712-0Published: 03 November 2023
Edition Number: 1
Number of Pages: XXVII, 456
Number of Illustrations: 3 b/w illustrations, 28 illustrations in colour
Topics: Behavioral/Experimental Economics, Social Choice/Welfare Economics/Public Choice/Political Economy, Psychology, general