Tracing the Origins of Personalist Economics to Aristotle and Aquinas

Personalist Economics has identified a central problem in Neoclassical Economics that originates in its representation of the economic agent as homo economicus and its grounding in individualism. Both flaws are directly addressed by Personalist Economics that has a different perspective on human nature as set forth in Personalism. Our remarks are presented in three sections. In the first section we address why individualism is an unsatisfactory philosophical foundation for modern economic theory. In the second section we trace the origins of Personalist Economics to Aristotle and Aquinas. While others, such as Heinrich Pesch and Joseph Schumpeter, played important roles in the evolution of Personalist Economics, here our efforts are restricted to the contributions of Aristotle and Aquinas. In the third section we explore how, in terms of 18 tenets, Personalist Economics and a Personalist economy differ from Mainstream Economics and the individualistic market economy.     

Sen’s criticism of revealed preference theory and its ‘neo-samuelsonian critique’: a methodological and theoretical assessment

This paper evaluates how Amartya Sen’s critique of revealed preference theory (RPT) stands against the latter’s contemporary, ‘neo-Samuelsonian’ version. Neo- Samuelsonians have argued that Sen’s arguments against RPT are innocuous, in particular once it is acknowledged that RPT does not assume away the existence of motivations or other latent psychological or cognitive processes. Sen’s claims that preferences and choices need to be distinguished and that external factors need to be taken into account to analyze the act of choice then appear to be irrelevant. However, while it is true that contemporary revealed preference theory (CRPT) partially evades Sen’s critique, I show that the latter is still relevant outside the restricted areas of consumer choice and market dynamics. In particular, Sen’s views regarding the importance of incomplete preferences and the multiplicity of levels of agency can hardly be integrated into the framework of CRPT. This is a significant limit, given the imperialistic claims of some of the proponents of the latter.     

An Epistemological Reflection on Social and Solidarity Economy

Social and Solidarity Economy (SSE) is emerging as life affirming solutions to the global crises through the multiple ways people locally reinvent economic life on the margins of the capitalist system based on values of solidarity, reciprocity and sustainability. Although the SSE builds on a strong foundation of real practices and institutions of economic transformation as the way forward for us, this paper argues that this world of practice is in need of its theory to frame discourses and engage with the bigger picture with confidence as an alternative to the dominant economic paradigm. The author argues that the orthodox economics, with its ontological construct of the homo economicus, Cartesian dichotomy and logical positivist epistemology severely constrains our abilities to understand and appreciate economic alternatives based on ‘other’ rationalities. Hence, there is a need for an epistemological revolution to construct a coherent theoretical framework from the wreckages of the neoclassical economics for the SSE. This paper seeks to outline the basic structure and the key elements of the ontological and the epistemological framework for this ‘science-in-the-making’ as a step to stimulate further debate for a paradigm revolution.     

Rationality without Transitivity

In this article rational choice behavior is investigated without assuming transitivity or completeness of the underlying preferences. These standard properties are replaced by a property concerning dominant alternatives. This permits the existence of preference cycles among alternatives which are dominated, while still ensuring the existence of a rational choice correspondence. We will also realize that some rational choice rules still hold in this context. Further we will see that in equilibrium analysis the existence of a competitive equilibrium follows when transitivity and completeness is replaced by this domination property.     

The road to rationalisation: A history of “Where the Empirical Lives” (or has lived) in consumer choice theory

This paper examines the different ways that economists have characterised the empirical content of modern consumer choice theory. There has been general agreement among economists that each stage in the development of the theory has been associated with an improvement in the theory's empirical content, and yet there has been no agreement about what exactly the empirical content of consumer choice theory is at any stage in the process. I call this the problem of observational ambiguity. The paper historically documents this problem, links it to various theoretical developments, and relates it to debates in contemporary economic theory.     

Understanding Heterogeneous Preferences in Random Utility Models: A Latent Class Approach

A finite mixture approach toconditional logit models is developed in whichlatent classes are used to promoteunderstanding of systematic heterogeneity. The model is applied to wilderness recreationin which a branded choice experiment involvingchoice of one park from a demand system wasadministered to a sample of recreationists. The basis of membership in the classes orsegments in the sample involved attitudinalmeasures of motivations for taking a trip, aswell as their stated preferences overwilderness park attributes. The econometricanalysis suggested that four classes of peopleexist in the sample. Using the model toexamine welfare measures of some hypotheticalpolicy changes identified markedly differentwelfare effects than the standard singlesegment model, and provided insight into thedifferential impact of alternative policies.     

The challenge of akrasia for the theory of rational choice

The phenomenon of akrasia, in which an actor makes a choice she regrets even while choosing it, appears problematic for theories of rational choice, which assume that an agent prefers any chosen course of action. The apparent possibility of akratic action presents a challenge to rational choice theorists, either to demonstrate that it is illusory or to show that akratic action does not violate the axioms of rational choice. The problematic status of akrasia is exhibited most sharply when set against the backdrop of praxeology. Therefore, this paper will explore whether the idea of akratic action can be reconciled with the fundamental principles of praxeology.

湖南省各地级市产业技术选择指数的实证研究

基于产业技术选择指数的面板数据模型,对2009-2015年湖南省各地级市的资源禀赋和产业技术选择进行实证研究,结果发现:①湖南省各地级市的产业发展战略呈现出湘西北、湘东发展失衡,而湘东北、湘南发展基本协调的\"十字型\"空间特征。②张家界、怀化和常德等湘西北地区和株洲、益阳两个湘中东地区都严重偏离资源禀赋结构的比较优势。③岳阳、湘潭、娄底、永州等城市的产业发展政策对资源禀赋结构的比较优势偏离不大,并且大部分地区的偏离幅度随时间的演变得到持续改进。建议湖南产业发展战略应该遵循产业动态发展规律,充分考虑地区间资源禀赋结构的差异;通过相对降低湘西和湘东地区产业的资本劳动比重以及提高湘中东地区产业的资本劳动比重来优化湖南省各地级市的产业发展战略。     

收入因素与中国劣质品市场的部分逆向选择

基于Akerlof逆向选择模型,引入收入因素对其分析,通过说明收入因素影响消费偏好,进而改变消费者的无差异曲线,建立一个有限次交易后最终达到非零均衡的部分逆向选择的基本模型,并着重从这一侧面,即收入因素的影响,分析为什么在中国劣质品市场会长期存在。研究表明：购买偏好因收入增加而改变明显的劣质品的解决途径是增加人们的收入水平;购买偏好随收入增加改变不明显的劣质品的解决途径是增加外部干预。     

A discrete choice experiment to determine patient preferences for injection devices in multiple sclerosis

Abstract

Objective:

Relapsing-remitting multiple sclerosis (MS) is usually managed with disease modifying drugs (DMDs), most commonly administered via self-injection. The aim of this study was to estimate the influence that different treatment-related attributes have for MS patients on their choice of MS DMD device. By establishing the relative importance of these characteristics for patients it should be possible to better understand the acceptability of a given device and to optimize the development of future devices.

Methods:

A discrete choice experiment (DCE) survey was developed on the basis of a review of published literature. Attributes identified for inclusion in the survey were: ease of use; comfort of use; presence of additional functions, needle visibility; practicality and efficacy. Choice sets were presented as pairs of hypothetical treatments based upon a fractional factorial design. One-hundred device-using MS patients completed the survey online. Analysis was conducted using a mixed-logit approach.

Results:

Analysis of the DCE data revealed that all attributes significantly predicted treatment choice. Efficacy exhibited the largest effect on treatment selection and this provided context for understanding the magnitude of impact for the other attributes. Reducing the discomfort associated with device use and eliminating the necessity for assembly or drug reconstitution were highly valued. The addition of reminder and time-stamping functions, improved needlestick injury prevention, and reduction in device size were secondary concerns but still deemed desirable.

Conclusion:

Efficacy is of primary importance to MS patients, but characteristics of drug delivery devices can play an important role in treatment decision-making. Not all device characteristics could be included, and results are based upon 100 participants only. Findings suggest there is significant potential value in developing self-injection devices that are not only efficacious but also convenient and comfortable to use. Reducing barriers to adherence could potentially translate into improved treatment outcomes for patients with MS.     

An Analytical Framework for Joint vs Separate Decisions by Couples in Choice Experiments: The Case of Coastal Water Quality in Tobago

This paper offers an analytical framework for analyzing joint and separate decisions by couples in the context of choice experiments for nonmarket valuation. It reports results from an attribute-based stated preference study in which members of couples are asked to conduct a choice-experiment first individually and then jointly. The choice context was the selection of which beach to visit while on vacation in Tobago. Available alternatives differed in attributes related to coastal water and beach quality such as level of coastal development and fish abundance. Tests of preference equality are reported and structured so as to identify the intra-couple decision-making patterns under taste heterogeneity with both finite and continuous mixed logit. Results from the latter suggest that women’s preferences are found to be predominant in the joint choice-experiment. Results suggest caution in using individual choice rather than joint couple choice when valuing quality changes impacting on couple activities, such as water and beach quality in Tobago, and call for further research on the topic.     

Maximal elements of non-binary choice functions on compact sets

We give sufficient conditions for the existence of maximal elements on compact sets for ‘contraction consistent’ (but possibly non-binary) choice functions. Our result generalizes the Bergstrom-Walker theorem on the existence of maximal elements with acyclic preference relations.     

北京城镇居民对不同猪肉质量安全特征的消费偏好和支付意愿

利用针对北京市城镇居民的问卷调查数据,运用选择实验法,采用多元条件Logit模型实证分析了消费者对生鲜猪肉的不同质量安全特征的偏好和支付意愿。结果表明:对猪肉产品的不同质量安全特征进行标识有助于提高消费者的效用水平;北京市城镇居民对生鲜猪肉建立质量安全可追溯体系的偏好和支付意愿最高,其次是生鲜猪肉通过产品质量安全认证、柔嫩度较好,对生鲜猪肉具有无瘦肉精和兽药残留的质量安全标识的偏好和支付意愿最低。据此提出:中国应加强生鲜猪肉质量安全可追溯体系建设;政府监管部门应规范农产品质量安全标识的申请和使用行为,确保农产品生产者进行安全生产,确保质量安全标识制度的有效实施。     

基于市场调查的欧美游客旅游选择偏好研究

旅游者的个人特征因素与旅游选择和偏好有着密切的关系。从旅游者的需求角度去分析旅游者的目的，并从中掌握客源市场的变化趋势，探讨其对于旅游市场拓展、旅游形象设计和旅游管理、旅游资源开发的参考价值。