Vad menas med konsumenters välfärd?

Bryan Caplan:

For the past few years, social scientists have been arguing over the One True Measure of consumer welfare. Most economists still cling to the Demonstrated Preference Standard: If A buys X, then X makes A better off by definition. Psychologists and psychologically-minded economists have been pushing the Happiness Standard: If A buy X and feels happier as a result, then and only then is A better off.

I think both standards have some merit. But I’d like to suggest a middle way. I call it the Consumer Satisfaction Standard.  According to this standard, if A buys X, and would do so if he had the chance to make the decision over again, then X makes A better off.

Innovativt. Jag gillar ansatsen därför att den innefattar respekt för individuella val och revealed preference trots att individer, enligt eget förmenande, ibland begår misstag. Om vi kan lära av misstag är misstag ofta mindre problematiska, i ett dynamiskt perspektiv, och ånger fyller därvidlag en funktion.