As If vs. Substantive Rationality: Identification and Implications — NSF Award to Brown University (RI, $583,769)
Economic decision makers face an important constraint: while they need to know consumer preferences to identify welfare improvements, they can only observe choices made. Hence, welfare economics and its resulting implications rest heavily on the idea that choices are driven by one’s preferences. Under the classic model
| Award title | As If vs. Substantive Rationality: Identification and Implications |
|---|---|
| Award ID | 2416935 |
| Awardee | Brown University |
| City | PROVIDENCE |
| State | RI |
| Amount obligated | $583,769 |
| Principal investigator | Kareen Rozen |
| Program | Economics |
| Start date | 09/01/2024 |
| Abstract | Economic decision makers face an important constraint: while they need to know consumer preferences to identify welfare improvements, they can only observe choices made. Hence, welfare economics and its resulting implications rest heavily on the idea that choices are driven by one’s preferences. Under the classic model of rationality, a consumer has a stable preference over alternatives and systematically uses it to choose the best affordable option. Because neither decision process nor preferen |
| Source | NSF Awards |
$799/mo
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