Titolo
What is Behavioural Economics Like? Loss Aversion, Endowment Effect, and some Unanswered Questions about Realisticness and the Relationship with MainstreamPeriodico
Università degli Studi del Piemonte Orientale 'A. Avogadro' : Facoltà di Economia - Dipartimento di Scienze Economiche e Metodi Quantitativi "SEMEQ" - QuaderniAnno:
2007 - Volume:
07 - Fascicolo:
22 - Pagina iniziale:
1 - Pagina finale:
27Behavioural Economics’ milestones, Endowment Effect and Loss Aversion, have been
recognized as ‘well documented,’ ‘robust,’ and ‘important’ even by the critics. But well documented, robust, and
important what? Are these stylized facts, theoretical constructs, or psychological truths? Do they express genuine
preferences or are they judgement mistakes? We discuss the problems with the nature of these claims in the lights of the
goals of Behavioural Economics: to improve economics’ realisticness and to be considered mainstream. We argue that,
under sensible interpretations of Loss Aversion and Endowment Effect, Behavioural Economics is neither more realistic
than, nor part of the mainstream.
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http://semeq.unipmn.it/files/quaderno%20completo%2022.pdfEsportazione dati in Refworks (solo per utenti abilitati)
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