Normative Positions and Market Failures - The Implications of Political Ethics on Cures for Market Failures
(2004)Department of Economics
- Abstract
- In this essay I discuss different normative foundations - theories of political ethics, for proposed cures to market failures. In addition to empirically match what cure fit what type of market failure, I posit the notion that the normative position of an economist, or policy maker, or of a group, concerned with these problems, delimits the options available for recommending, or analysing, what corrective measures that needs be taken to restore markets to efficiency. Two theoretical normative positions, one utilitarian and one libertarian, is constructed to argue the point that different normative positions will yield different permissible actions. The analysis is conducted against the background of different rational choice models, i.e.,... (More)
- In this essay I discuss different normative foundations - theories of political ethics, for proposed cures to market failures. In addition to empirically match what cure fit what type of market failure, I posit the notion that the normative position of an economist, or policy maker, or of a group, concerned with these problems, delimits the options available for recommending, or analysing, what corrective measures that needs be taken to restore markets to efficiency. Two theoretical normative positions, one utilitarian and one libertarian, is constructed to argue the point that different normative positions will yield different permissible actions. The analysis is conducted against the background of different rational choice models, i.e., 'thin' and 'thick' rationality, both of which has profound impacts on both the theory of market failure itself, and on the proposed cures. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/1336881
- author
- Hansson, André
- supervisor
- organization
- year
- 2004
- type
- M2 - Bachelor Degree
- subject
- keywords
- rational choice models, Economics, econometrics, economic theory, economic systems, economic policy, Nationalekonomi, ekonometri, ekonomisk teori, ekonomiska system, ekonomisk politik
- language
- English
- id
- 1336881
- date added to LUP
- 2004-11-02 00:00:00
- date last changed
- 2010-08-03 10:49:00
@misc{1336881,
abstract = {{In this essay I discuss different normative foundations - theories of political ethics, for proposed cures to market failures. In addition to empirically match what cure fit what type of market failure, I posit the notion that the normative position of an economist, or policy maker, or of a group, concerned with these problems, delimits the options available for recommending, or analysing, what corrective measures that needs be taken to restore markets to efficiency. Two theoretical normative positions, one utilitarian and one libertarian, is constructed to argue the point that different normative positions will yield different permissible actions. The analysis is conducted against the background of different rational choice models, i.e., 'thin' and 'thick' rationality, both of which has profound impacts on both the theory of market failure itself, and on the proposed cures.}},
author = {{Hansson, André}},
language = {{eng}},
note = {{Student Paper}},
title = {{Normative Positions and Market Failures - The Implications of Political Ethics on Cures for Market Failures}},
year = {{2004}},
}