Assumptions, behavioral findings, and policy analysis

Assumptions, behavioral findings, and policy analysis

Recent empirical studies indicate that many standard economic assumptions used in policy analyses do not reflect people's preferences and choices as well as modifications based on behavioral findings. Differences in the areas of time preferences and the large disparity between valuations of gai...

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Bibliographic Details
Published in:Journal of policy analysis and management Vol. 14; no. 1; pp. 68 - 78
Main Author: Knetsch, Jack L.
Format: Journal Article
Language:English
Published: New York Wiley Subscription Services, Inc., A Wiley Company 1995
John Wiley & Sons, Inc
John Wiley & Sons, Ltd
Wiley
Wiley Periodicals Inc
Series:Journal of Policy Analysis and Management
Subjects:
Behaviorism
Consumer behavior
Discounting
Economic behaviour
Economic Policy
Economic surveys
ECONOMIC THEORY
Economic value
Empirical evidence
Entitlement programs
Environmental policy
Fairness
Financial risk
Policy analysis
Valuation
Online Access:Get full text
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Summary:Recent empirical studies indicate that many standard economic assumptions used in policy analyses do not reflect people's preferences and choices as well as modifications based on behavioral findings. Differences in the areas of time preferences and the large disparity between valuations of gains and losses illustrate the issues and the distortions that present analyses likely impose.
Bibliography:istex:8BAF0EEFD4A27B888BB37A514F2EE8061CE5B652
The Social Sciences and Humanities Research Council of Canada and The Ontario Ministry of the Environment
ArticleID:PAM4050140106
ark:/67375/WNG-0PLF0GW2-F
ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
ObjectType-Article-1
ObjectType-Feature-2
ISSN:0276-8739
1520-6688
DOI:10.2307/3325433