The Bond between Positive and Normative Economics (notice n° 207118)
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| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250112052614.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Hausman, Daniel M. |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | The Bond between Positive and Normative Economics |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2018.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 51 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | This essay clarifies the relations between positive economics and mainstream normative economics. If rationality can be characterized by conditions on preferences and choices and, in addition, people are, to a reasonable degree of approximation rational, then economists can invoke the theory of rationality to explain choices. If people are also, as in positive economics, largely self-interested and reasonably well-informed, then their preferences will also indicate their level of well-being. Modeling both choice and welfare in terms of rational preferences thus unites positive and normative economics. In explaining market outcomes in terms of individual choices, explaining choices by preferences, and taking preferences to indicate well-being, economists who are concerned with welfare defend a normative theory that piggybacks on their positive theory. This traditional mainstream normative theory is problematic, but because of its unity and its connection to positive economics, it is also very powerful. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | rationality |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | preferences |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | welfare |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | normative economics |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Revue d'économie politique | 128 | 2 | 2018-05-15 | p. 191-208 | 0373-2630 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-revue-d-economie-politique-2018-2-page-191?lang=en">https://shs.cairn.info/journal-revue-d-economie-politique-2018-2-page-191?lang=en</a> |
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