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Merely Means Paternalist? Prospect Theory and “Debiased” Welfare Analysis

Title data

Thoma, Johanna:
Merely Means Paternalist? Prospect Theory and “Debiased” Welfare Analysis.
In: Philosophy of Science. Vol. 91 (2024) Issue 1 . - pp. 204-224.
ISSN 0031-8248
DOI: https://doi.org/10.1017/psa.2023.106

Official URL: Volltext

Abstract in another language

Behavioral welfare economics usually aims at mere means paternalism, helping agents better pursue their own goals. This paper discusses one initially promising way to inform policies addressed at agents who violate expected utility theory (EUT), namely what I call “CPT debiasing.” I argue that this approach is problematic even if we grant the normative authority of EUT, the descriptive adequacy of CPT (cumulative prospect theory), and the general acceptability of means paternalism. First, it is doubtful whether the CPT utility function measures what its proponents intend. Second, by imposing risk neutrality on agents, the approach involves a more problematic paternalism.

Further data

Item Type: Article in a journal
Refereed: Yes
Institutions of the University: Faculties > Faculty of Cultural Studies > Department of Philosophy > Chair Ethics > Chair Ethics - Univ.-Prof. Dr. Johanna Thoma
Faculties
Faculties > Faculty of Cultural Studies
Faculties > Faculty of Cultural Studies > Department of Philosophy
Faculties > Faculty of Cultural Studies > Department of Philosophy > Chair Ethics
Result of work at the UBT: Yes
DDC Subjects: 100 Philosophy and psychology > 100 Philosophy
Date Deposited: 30 Mar 2024 22:00
Last Modified: 02 Apr 2024 05:42
URI: https://eref.uni-bayreuth.de/id/eprint/89106