Anomalies or Expected Behaviors? Understanding Stated Preferences and Welfare Implications in Light of Contemporary Behavioral Economics
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11690%2F25%3A10500035" target="_blank" >RIV/00216208:11690/25:10500035 - isvavai.cz</a>
Result on the web
<a href="https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=D1~rEIZ4qc" target="_blank" >https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=D1~rEIZ4qc</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1086/732191" target="_blank" >10.1086/732191</a>
Alternative languages
Result language
angličtina
Original language name
Anomalies or Expected Behaviors? Understanding Stated Preferences and Welfare Implications in Light of Contemporary Behavioral Economics
Original language description
The stated preference (SP) literature contains an expansive body of research on behavioral "anomalies," typically understood as response patterns that are inconsistent with choice theory in neoclassical economics. Although this literature often implies that anomalous behaviors are unique to SPs, widespread behavioral economic evidence of similar patterns across incentivized choice settings raises the potential for an alternative interpretation: SP "anomalies" reflect expected behaviors once systematic deviations from the standard economic model are considered. The parallels between SP anomalies and insights from behavioral economic revealed preference (RP) studies suggest that differences between SPs and RPs should not determine whether SPs are valid for applied welfare analysis. Moreover, these parallels suggest that behavioral economic approaches to calculating welfare implications of nonstandard behaviors may be applicable to SP studies. We review three such approaches (preference purification, reliance on conditions that encourage truthful preference disclosure, and the Bernheim-Rangel framework) and discuss their potential implications for SP research. We also consider more general insights from behavioral welfare economics for SP welfare analysis. We close by identifying promising avenues for interdisciplinary work at the intersection of SP research and behavioral welfare economics, to develop holistic frameworks with guidance for applied welfare economics in the presence of anomalous yet predictable behaviors.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50201 - Economic Theory
Result continuities
Project
<a href="/en/project/GX19-26812X" target="_blank" >GX19-26812X: Frontiers in Energy Efficiency Economics and Modelling - FE3M</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Others
Publication year
2025
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Review of Environmental Economics and Policy
ISSN
1750-6816
e-ISSN
1750-6824
Volume of the periodical
19
Issue of the periodical within the volume
1
Country of publishing house
US - UNITED STATES
Number of pages
21
Pages from-to
48-68
UT code for WoS article
001408178100003
EID of the result in the Scopus database
2-s2.0-105012359057