Abstract
This paper responds to six contributions to a symposium on my 2018 book, The Community of Advantage. I defend that book’s claim that most normative behavioural economics implicitly uses a psychologically ungrounded model of an ‘inner rational agent’. I also defend the claim that, given the contractarian approach taken in the book, opportunity is normatively prior to welfare and to particular ingredients of well-being, such as health and perceptions of agency. I show how the Strong Interactive Opportunity Criterion proposed in the book can be extended to allow comparisons between the extent of opportunity provided by different economic regimes.
Original language | English |
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Pages (from-to) | 419-430 |
Number of pages | 12 |
Journal | Journal of Economic Methodology |
Volume | 28 |
Issue number | 4 |
Early online date | 26 Oct 2021 |
DOIs | |
Publication status | Published - Dec 2021 |
Keywords
- behavioural economics
- competitive market
- mutual benefit
- contractarianism
- opportunity