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Normative Positions and Market Failures - The Implications of Political Ethics on Cures for Market Failures

Hansson, André (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)
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author
Hansson, André
supervisor
organization
year
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
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},
  keyword      = {rational choice models,Economics, econometrics, economic theory, economic systems, economic policy,Nationalekonomi, ekonometri, ekonomisk teori, ekonomiska system, ekonomisk politik},
  language     = {eng},
  note         = {Student Paper},
  title        = {Normative Positions and Market Failures - The Implications of Political Ethics on Cures for Market Failures},
  year         = {2004},
}