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    Rights statement: This is a pre-copy-editing, author-produced PDF of an article accepted for publication in British Journal for the Philosophy of Science following peer review. The definitive publisher-authenticated version Elias Bouacida, Daniel Martin, Predictive Power in Behavioral Welfare Economics, Journal of the European Economic Association, Volume 19, Issue 3, June 2021, Pages 1556–1591, https://doi.org/10.1093/jeea/jvaa037 is available online at: https://academic.oup.com/jeea/article-abstract/19/3/1556/5893294

    Accepted author manuscript, 423 KB, PDF document

    Available under license: CC BY-NC: Creative Commons Attribution-NonCommercial 4.0 International License

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Predictive Power In Behavioral Welfare Economics

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Published

Standard

Predictive Power In Behavioral Welfare Economics. / Bouacida, Elias; Martin, Daniel .
In: Journal of the European Economic Association, Vol. 19, No. 3, 30.06.2021, p. 1556–1591.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Bouacida, E & Martin, D 2021, 'Predictive Power In Behavioral Welfare Economics', Journal of the European Economic Association, vol. 19, no. 3, pp. 1556–1591. https://doi.org/10.1093/jeea/jvaa037

APA

Bouacida, E., & Martin, D. (2021). Predictive Power In Behavioral Welfare Economics. Journal of the European Economic Association, 19(3), 1556–1591. https://doi.org/10.1093/jeea/jvaa037

Vancouver

Bouacida E, Martin D. Predictive Power In Behavioral Welfare Economics. Journal of the European Economic Association. 2021 Jun 30;19(3):1556–1591. Epub 2020 Aug 17. doi: 10.1093/jeea/jvaa037

Author

Bouacida, Elias ; Martin, Daniel . / Predictive Power In Behavioral Welfare Economics. In: Journal of the European Economic Association. 2021 ; Vol. 19, No. 3. pp. 1556–1591.

Bibtex

@article{d896e767fd9a4351b364e3302b7d77f1,
title = "Predictive Power In Behavioral Welfare Economics",
abstract = "When choices are inconsistent due to behavioral biases, there is a theoretical debate about whether the structure of a model is necessary for providing precise welfare guidance based on those choices. To address this question empirically, we use standard data sets from the lab and field to evaluate the predictive power of two “model-free” approaches to behavioral welfare analysis. We find they typically have high predictive power, which means there is little ambiguity about what should be selected from each choice set. We also identify properties of revealed preferences that help to explain the predictive power of these approaches.",
keywords = "Welfare economics, behavioral economics, predictive power, revealed preferences",
author = "Elias Bouacida and Daniel Martin",
note = "This is a pre-copy-editing, author-produced PDF of an article accepted for publication in British Journal for the Philosophy of Science following peer review. The definitive publisher-authenticated version Elias Bouacida, Daniel Martin, Predictive Power in Behavioral Welfare Economics, Journal of the European Economic Association, Volume 19, Issue 3, June 2021, Pages 1556–1591, https://doi.org/10.1093/jeea/jvaa037 is available online at: https://academic.oup.com/jeea/article-abstract/19/3/1556/5893294",
year = "2021",
month = jun,
day = "30",
doi = "10.1093/jeea/jvaa037",
language = "English",
volume = "19",
pages = "1556–1591",
journal = "Journal of the European Economic Association",
issn = "1542-4766",
publisher = "Wiley-Blackwell",
number = "3",

}

RIS

TY - JOUR

T1 - Predictive Power In Behavioral Welfare Economics

AU - Bouacida, Elias

AU - Martin, Daniel

N1 - This is a pre-copy-editing, author-produced PDF of an article accepted for publication in British Journal for the Philosophy of Science following peer review. The definitive publisher-authenticated version Elias Bouacida, Daniel Martin, Predictive Power in Behavioral Welfare Economics, Journal of the European Economic Association, Volume 19, Issue 3, June 2021, Pages 1556–1591, https://doi.org/10.1093/jeea/jvaa037 is available online at: https://academic.oup.com/jeea/article-abstract/19/3/1556/5893294

PY - 2021/6/30

Y1 - 2021/6/30

N2 - When choices are inconsistent due to behavioral biases, there is a theoretical debate about whether the structure of a model is necessary for providing precise welfare guidance based on those choices. To address this question empirically, we use standard data sets from the lab and field to evaluate the predictive power of two “model-free” approaches to behavioral welfare analysis. We find they typically have high predictive power, which means there is little ambiguity about what should be selected from each choice set. We also identify properties of revealed preferences that help to explain the predictive power of these approaches.

AB - When choices are inconsistent due to behavioral biases, there is a theoretical debate about whether the structure of a model is necessary for providing precise welfare guidance based on those choices. To address this question empirically, we use standard data sets from the lab and field to evaluate the predictive power of two “model-free” approaches to behavioral welfare analysis. We find they typically have high predictive power, which means there is little ambiguity about what should be selected from each choice set. We also identify properties of revealed preferences that help to explain the predictive power of these approaches.

KW - Welfare economics

KW - behavioral economics

KW - predictive power

KW - revealed preferences

U2 - 10.1093/jeea/jvaa037

DO - 10.1093/jeea/jvaa037

M3 - Journal article

VL - 19

SP - 1556

EP - 1591

JO - Journal of the European Economic Association

JF - Journal of the European Economic Association

SN - 1542-4766

IS - 3

ER -