CORDIS Project
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This project rethinks normative economics by focusing on opportunities rather than preferences. It explores how markets can provide mutually beneficial transactions without relying on traditional assumptions of rationality, aiming to redefine market roles and government regulation.
Economics has traditionally assumed that individuals seek to satisfy coherent and asocial preferences, and has used the satisfaction of those preferences as a normative criterion.
This ‘neoclassical’ approach has supported a view of the market as an institution in which privately-motivated individual actions tend to produce socially beneficial consequences.
These ideas have been called into question by recent developments in behavioural economics, which point to the cognitive limitations of econ…
UNIVERSITY OF EAST ANGLIA
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United Kingdom, COVENTRY
Type: University / higher education
Activity type: Higher or Secondary Education Establishments
SME: No
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