Normative and behavioural economics: a historical and methodological review

Ivan Mitrouchev

The European Journal of the History of Economic Thought, 2024, vol. 31, issue 4, 533-562

Abstract: Behavioural economics has not only posed serious challenges for the empirical adequacy of rational choice, but also for its normative status. Since the 1990s, a large body of work has proposed various normative approaches that account for inconsistent choices. Focusing on the relevant approaches, history, methods, and limits, this article offers a literature review of the relationship between normative and behavioural economics.

Date: 2024
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DOI: 10.1080/09672567.2024.2329046

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