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Behavioral economics for cost-Benefi...

Weimer, David Leo.

Behavioral economics for cost-Benefit analysisbenefit validity when sovereign consumers seem to make mistakes /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Behavioral economics for cost-Benefit analysisDavid L. Weimer.
Reminder of title:	benefit validity when sovereign consumers seem to make mistakes /
Author:	Weimer, David Leo.
Published:	Cambridge :Cambridge University Press,2017.
Description:	x, 167 p. :digital ;24 cm.
Notes:	Title from publisher's bibliographic system (viewed on 28 Aug 2017).
Subject:	EconomicsPsychological aspects.
Online resource:	https://doi.org/10.1017/9781108178389
ISBN:	9781108178389$q(electronic bk.)

Behavioral economics for cost-Benefit analysisbenefit validity when sovereign consumers seem to make mistakes /
Weimer, David Leo.

Behavioral economics for cost-Benefit analysisbenefit validity when sovereign consumers seem to make mistakes /[electronic resource] :David L. Weimer. - Cambridge :Cambridge University Press,2017. - x, 167 p. :digital ;24 cm.

Title from publisher's bibliographic system (viewed on 28 Aug 2017).

Machine generated contents note: 1. Introduction; 2. Neoclassical valuation principles for CBA; 3. Possible behavioral frameworks for CBA; 4. Risk perception and expected utility deviations; 5. Large deviations between WTP and WTA; 6. Non-exponential time discounting; 7. Harmful addictive consumption; 8. Practical guidelines for valuation.

How should policy analysts assess 'benefit validity' when behavioral anomalies appear relevant? David L. Weimer provides thoughtful answers through practical guidelines. Behavioral economists have identified a number of situations in which people appear not to behave according to the neoclassical assumptions underpinning welfare economics and its application to the assessment of the efficiency of proposed public policies through cost-benefit analysis. This book introduces the concept of benefit validity as a criterion for estimating benefits from observed or stated preference studies, and provides practical guidelines to help analysts accommodate behavioral findings. It considers benefit validity in four areas: violations of expected utility theory, unexpectedly large differences between willingness to pay and willingness to accept, non-exponential discounting, and harmful addiction. In addition to its immediate value to practicing policy analysts, it helps behavioral economists identify issues where their research programs can make practical contributions to better policy analysis.

ISBN: 9781108178389$q(electronic bk.)Subjects--Topical Terms:

190596
Economics
--Psychological aspects.

LC Class. No.: HB74.P8 / W44 2017

Dewey Class. No.: 330.019

Behavioral economics for cost-Benefit analysisbenefit validity when sovereign consumers seem to make mistakes /
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245 1 0 $a Behavioral economics for cost-Benefit analysis $h [electronic resource] : $b benefit validity when sovereign consumers seem to make mistakes / $c David L. Weimer.
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505 8 $a Machine generated contents note: 1. Introduction; 2. Neoclassical valuation principles for CBA; 3. Possible behavioral frameworks for CBA; 4. Risk perception and expected utility deviations; 5. Large deviations between WTP and WTA; 6. Non-exponential time discounting; 7. Harmful addictive consumption; 8. Practical guidelines for valuation.
520 $a How should policy analysts assess 'benefit validity' when behavioral anomalies appear relevant? David L. Weimer provides thoughtful answers through practical guidelines. Behavioral economists have identified a number of situations in which people appear not to behave according to the neoclassical assumptions underpinning welfare economics and its application to the assessment of the efficiency of proposed public policies through cost-benefit analysis. This book introduces the concept of benefit validity as a criterion for estimating benefits from observed or stated preference studies, and provides practical guidelines to help analysts accommodate behavioral findings. It considers benefit validity in four areas: violations of expected utility theory, unexpectedly large differences between willingness to pay and willingness to accept, non-exponential discounting, and harmful addiction. In addition to its immediate value to practicing policy analysts, it helps behavioral economists identify issues where their research programs can make practical contributions to better policy analysis.
650 0 $a Economics $x Psychological aspects. $3 190596
650 0 $a Cost effectiveness. $3 183924
856 4 0 $u https://doi.org/10.1017/9781108178389