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Normative and behavioural economics: a historical and methodological review

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  • Ivan Mitrouchev

Abstract

Behavioural economics has not only posed serious challenges for the empirical adequacy of rational choice, but also for its normative status. Since the 1990s, a large body of work has proposed various normative approaches that account for inconsistent choices. Focusing on the relevant approaches, history, methods, and limits, this article offers a literature review of the relationship between normative and behavioural economics.

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  • Ivan Mitrouchev, 2024. "Normative and behavioural economics: a historical and methodological review," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 31(4), pages 533-562, July.
    • Handle: RePEc:taf:eujhet:v:31:y:2024:i:4:p:533-562
    DOI: 10.1080/09672567.2024.2329046
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