Scientific Numerology Preference Pnomalies and Environmental Policymaking

John List

Natural Field Experiments from The Field Experiments Website

Abstract: Recently an abundance of experimental evidence has been gathered that is consonant with the notion that individual preferences are inconsistent and unstable. These empirical results potentially undermine the theoretical foundation of welfare economics, as the degree of preference liability claimed suggests that perhaps no optimization principles underlie even the most straightforward of choices. Yet policymakers in the environmental arena continue to prescribe policies based on economics-based methods that are constructed on the very principles that have been directly refuted. Are policymakers creatures of habit that move at glacial speed or is there something deeper behind their inertness? In this study, I explore this issue within the U.S. context and argue that there is some rationality behind current public policy decision making. I then explore whether the empirical evidence supports the view that policymakers should take preference anomalies seriously. As a case study, I focus on some of my recent findings on preference inconsistencies in the marketplace.

Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://s3.amazonaws.com/fieldexperiments-papers2/papers/00488.pdf

Related works:
Journal Article: Scientific Numerology, Preference Anomalies, and Environmental Policymaking (2005)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:feb:natura:00488

Access Statistics for this paper

More papers in Natural Field Experiments from The Field Experiments Website
Bibliographic data for series maintained by Francesca Pagnotta ().