Both economic and public health/medical perspectives play an important role in the policy process but often approach policy questions in an incompatible way. Harnessing any synergy requires an understanding of the other perspective. We begin by comparing and contrasting the economic and public health perspectives, including introducing relevant economic concepts. We next identify economic consi...

Economic analysis of law usually proceeds under the assumptions of neoclassical economics. But empirical evidence gives much reason to doubt these assumptions; people exhibit bounded rationality, bounded self-interest, and bounded willpower. This article offers a broad vision of how law and economics analysis may be improved by increased attention to insights about actual human behavior. It con...

The paper analyzes economic evaluations by distinguishing evaluative statements from value judgments proper. Building on this basis, it compares four solutions to the value-neutrality problem in economics. After rebutting the strong theses about neutrality (normative economics is illegitimate) and non-neutrality (the social sciences are value-impregnated), the paper settles the case between the...

W reflect on the evolution of the strategy field as seen through the window of Management Science. Reflecting the diverse disciplinary roots of strategy research, we identify a broad-ranging body of work that varies with respect to the assumptions made regarding individual rationality and the level of analysis at which the research is carried out. We argue that recent developments begin to deli...

W reflect on the evolution of the strategy field as seen through the window of Management Science. Reflecting the diverse disciplinary roots of strategy research, we identify a broad-ranging body of work that varies with respect to the assumptions made regarding individual rationality and the level of analysis at which the research is carried out. We argue that recent developments begin to deli...

Robert Sugden has recently elaborated upon the case for a normative standard of freedom as “opportunity” that is supposed to cope with the problem of how to realign normative economics – with its traditional rational choice orientation – with behavioral economics. His standard, though, presupposes that people respond to uncertainty about their own future preferences by dismissing any kind of se...

This paper adds a moral angle to a pluralist approach to development economics. Normative assumptions can be found in all the five main schools of thought that have analysed India’s rural labour markets (neoclassical, new institutionalist, Marxist political economy, formalised political economy, and feminist). The theorisations that are used by each have normative overtones. I define overtones ...