Anomalies or Expected Behaviors? Understanding Stated Preferences and Welfare Implications in Light of Contemporary Behavioral Economics

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

Anomalies or Expected Behaviors? Understanding Stated Preferences and Welfare Implications in Light of Contemporary Behavioral Economics

Popis výsledku v původním jazyce

The stated preference (SP) literature contains an expansive body of research on behavioral &quot;anomalies,&quot; 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 &quot;anomalies&quot; 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.

Název v anglickém jazyce

Anomalies or Expected Behaviors? Understanding Stated Preferences and Welfare Implications in Light of Contemporary Behavioral Economics

Popis výsledku anglicky

The stated preference (SP) literature contains an expansive body of research on behavioral &quot;anomalies,&quot; 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 &quot;anomalies&quot; 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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

<a href="/cs/project/GX19-26812X" target="_blank" >GX19-26812X: Excelence v ekonomickém výzkumu energetické efektivity a modelování dopadů - FE3M</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2025

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Review of Environmental Economics and Policy

ISSN

1750-6816

e-ISSN

1750-6824

Svazek periodika

19

Číslo periodika v rámci svazku

1

Stát vydavatele periodika

US - Spojené státy americké

Počet stran výsledku

21

Strana od-do

48-68

Kód UT WoS článku

001408178100003

EID výsledku v databázi Scopus

2-s2.0-105012359057