Elements of an Evolutionary Theory of Welfare: Assessing Welfare When Preferences Change

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Martin Binder (Max Planck Institute of Economics, Germany)

Elements of an Evolutionary Theory of Welfare

Assessing Welfare When Preferences Change

Martin Binder (Max Planck Institute of Economics, Germany)

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English

Routledge
23 June 2014

Social welfare & social services; Welfare economics

Series: Routledge Advances in Social Economics

It has always been an important task of economics to assess individual and social welfare. The traditional approach has assumed that the measuring rod for welfare is the satisfaction of the individual’s given and unchanging preferences, but recent work in behavioural economics has called this into question by pointing out the inconsistencies and context-dependencies of human behaviour. When preferences are no longer consistent, we have to ask whether a different measure for individual welfare can, and should, be found.

This book goes beyond the level of preference and instead considers whether a hedonistic view of welfare represents a viable alternative, and what its normative implications are. Offering a welfare theory with stronger behavioural and evolutionary foundations, Binder follows a naturalistic methodology to examine the foundations of welfare, connecting the concept with a dynamic theory of preference learning, and providing a more realistic account of human behaviour.

This book will be of interest to researchers and those working in the fields of welfare economics, behavioural and evolutionary economics.

By: Martin Binder (Max Planck Institute of Economics Germany)
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 156mm, Spine: 16mm
Weight: 408g
ISBN: 9781138807082
ISBN 10: 1138807087
Series: Routledge Advances in Social Economics
Pages: 280
Publication Date: 23 June 2014
Audience: College/higher education , Primary , A / AS level
Format: Paperback
Publisher's Status: Active

Martin Binder is a Research Associate at the Max Planck Institute of Economics, Jena, Germany.

Reviews for Elements of an Evolutionary Theory of Welfare: Assessing Welfare When Preferences Change

"""If the assumption is no longer that our preferences and wants are fixed but that they change over time, how should we think of economic welfare? In a much needed book, Martin Binder puts a novel discussion of these crucial issues on a firm behavioural and evolutionary footing."" - Jack Vromen, Erasmus University, Rotterdam, The Netherlands"