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Individual Irrationality and Public Policy: In Search of Merit/Demerit Policies

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  • Walsh, Cliff

Abstract

In the context of a re-examination of the conceptual and political foundations of merit/demerit goods, this paper attempts to identify how far they might take us in understanding, explaining, and providing normative justification for, public sector intervention. If merit/demerit influences are to be discovered in actual policies they must be capable of being isolated, at least at the margin, from other policy influences, such as conventional sources of market failure, pure paternalism, and pressure group activities.

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  • Walsh, Cliff, 1987. "Individual Irrationality and Public Policy: In Search of Merit/Demerit Policies," Journal of Public Policy, Cambridge University Press, vol. 7(2), pages 103-134, April.
    • Handle: RePEc:cup:jnlpup:v:7:y:1987:i:02:p:103-134_00
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    1. Kislev, Mickey M. & Kislev, Shira, 2020. "The Market Trajectory of a Radically New Product: E-Cigarettes," MPRA Paper 104425, University Library of Munich, Germany.

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