The Space between Choice and Our Models of It: Practical Wisdom and Normative Economics

2014 ◽  
Author(s):  
Andrew M. Yuengert
2007 ◽  
pp. 59-72
Author(s):  
I. Lavrov

The author considers theoretical, philosophical and methodological aspects of normative approach in economic theory. The article discusses normative analysis and types of normative and positive elements in economic theory, basing upon difference between abstract and real objects of science. The specific traits of generations as subjects of economic and socio-political history are determined.


2020 ◽  
Vol 2 (1) ◽  
pp. 69-89
Author(s):  
Hawken Brackett ◽  
E. Douglas McKnight

<?page nr="69"?>Abstract A misalignment exists between the institutional management of individual student behavior and the stated ethical principles undergirding modern higher education practices in the United States, ultimately creating an ethical failure serving no one. We discuss this misalignment from the site of student affairs, due to its charge to represent both university and student. A technocratic ethical discourse creates the illusion of decision-making autonomy that promises certain outcomes if “common sense” leadership practices are employed. The lens of technical rationality homogenizes and reduces perceived problems to simple either/ors that fail to address the inequitable effects of such ethical logic. We counter “common sense” leadership with a notion of ethical leadership called phronetic leadership, which is informed by an Aristotelian understanding of phronesis (practical wisdom), virtue ethics, and a Foucauldian awareness of governmentality. We argue that phronetic leaders can mend the cleft crippling institutional ethical foundations and practices.


Author(s):  
Robert Sugden

Chapter 4 reviews ‘behavioural welfare economics’—the approach to normative analysis that is favoured by most behavioural economists. This approach assumes that people have context-independent ‘true’ or ‘latent’ preferences which, because of psychologically-induced errors, are not always revealed in actual choices. Behavioural welfare economics aims to reconstruct latent preferences by identifying and removing the effects of error on decisions, and to design policies to satisfy those preferences. Its implicit model of human agency is of an ‘inner rational agent’ that interacts with the world through an imperfect psychological ‘shell’. I argue that there is no satisfactory evidence to support this model, and no credible psychological foundation for it. Since the concept of true preference has no empirical content, the idea that such preferences can be reconstructed is a mirage. Normative economics needs to be more radical in giving up rationality assumptions.


Ethics ◽  
1948 ◽  
Vol 58 (4) ◽  
pp. 262-274
Author(s):  
Charner Perry
Keyword(s):  

2021 ◽  
pp. 002205742110288
Author(s):  
Karen Elizabeth Bohlin

Educational leaders are required to respond in real time to questions, quandaries, and cases that involve individuals in different contexts. They face an array of possible choices that exist in tension. Justice and fairness must coexist with mercy and compassion; in enforcing policy, compliance must make room for flexibility in special cases. School leaders are called to adjudicate competing goods and teach others to do the same. This article examines what practical wisdom is, why it matters, and introduces a theoretically grounded Practical Wisdom Framework (PWF) to help school leaders deliberate well to create and sustain formative institutions.


2020 ◽  
Vol 13 (3) ◽  
pp. 479-501 ◽  
Author(s):  
Marij C.M.M.L. Bontemps-Hommen ◽  
Andries J. Baart ◽  
Frans J.H. Vosman

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