Which choices merit deference? A comparison of three behavioural proxies of subjective welfare. (11th March 2023)

• Record Type: Journal Article
• Authors: Ferreira, João V.
• Is Part Of: Economics and philosophy. Volume 39:Number 1(2023)
• Page Start: 124
• Page End: 151
• Publication Date: 2023-03-11
• Subjects: Behavioural welfare economics -- confirmed choices -- stated meta-choices -- nudges -- boosts; D01 -- D04 -- D60 -- D90 -- I31; Economics -- Philosophy -- Periodicals; 330.01
• DOI: 10.1017/S0266267121000365
• Languages: English
• ISSNs: 0266-2671

Abstract

Abstract: Recently several authors have proposed proxies of welfare that equate some (as opposed to all) choices with welfare. In this paper, I first distinguish between two prominent proxies: one based on context-independent choices and the other based on reason-based choices . I then propose an original proxy based on choices that individuals state they would want themselves to repeat at the time of the welfare/policy evaluation ( confirmed choices ). I articulate three complementary arguments that, I claim, support confirmed choices as a more reliable proxy of welfare than context-independent and reason-based choices. Finally, I discuss the implications of these arguments for nudges and boosts .