Commodities and Capabilities
- R. Sugden
- Economics
- 1 September 1986
Commodities and Capabilities presents a set of inter-related theses concerning the foundations of welfare economics, and in particular about the assessment of personal well-being and advantage. The…
Regret Theory: An alternative theory of rational choice under uncertainty Review of Economic Studies
The main body of current economic analysis of choice under uncertainty is built upon a small number of basic axioms, formulated in slightly different ways by von Neumann and Morgenstern (I 947),…
Disappointment and Dynamic Consistency in Choice under Uncertainty
The central proposition of disappointment theory is that an individual forms expectations about uncertain prospects, and that if the actual consequence turns out to be worse than (or better than)…
The Economics of Rights, Co-Operation, and Welfare
- R. Sugden
- Economics
- 1986
Spontaneous Order Games Co-ordination Property Possession Reciprocity Free Riders Natural Law Rights, Co-operation and Welfare
Credible worlds: the status of theoretical models in economics
- R. Sugden
- Economics
- 1 January 2000
Using as examples Akerlof's 'market for ''lemons''' and Schelling's 'checkerboard' model of racial segregation, this paper asks how economists' abstract theoretical models can explain features of the…
Reference-dependent subjective expected utility
- R. Sugden
- EconomicsJournal of Economics Theory
- 1 August 2003
Reciprocity: The Supply of Public Goods Through Voluntary Contributions
- R. Sugden
- Economics
- 1 December 1984
In modern economies, there are two main ways of financing the production of goods and services. One way is by charging consumers: if you consume, you must pay. The other way is by raising taxes:…
A Test of the Theory of Reference-Dependent Preferences
- I. Bateman, A. Munro, Bruce Rhodes, C. Starmer, R. Sugden
- Economics
- 1 May 1997
Eight alternative methods of eliciting preferences between money and a consumption good are identified: two of these are standard willingness-to-accept and willingness-to-pay measures. These methods…
Experienced Utility as a Standard of Policy Evaluation
- D. Kahneman, R. Sugden
- Economics
- 1 September 2005
This paper explores the possibility of basing economic appraisal on the measurement of experienced utility (utility as hedonic experience) rather than decision utility (utility as a representation of…
Experimental Economics: Rethinking the Rules
- N. Bardsley, Robin P. Cubitt, G. Loomes, P. Moffatt, C. Starmer, R. Sugden
- Economics
- 1 November 2009
Since the 1980s, there has been explosive growth in the use of experimental methods in economics, leading to exciting developments in economic theory and policy. Despite this, the status of…
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