Deconstructing Behavior, Choice, and Well-being: Neoclassical Choice Theory and Welfare Economics

Neoclassical economists assume that people act to maximize  their well-being: they choose based on their desires and only desire  what they will like. Neuroscientists and psychologists disagree. Their  research demonstrates that cues and evolutionary quirks cause people to  act against their best interests, even choosing alternatives they will  not like.

In this book, Edward R. Morey  contrasts neoclassical choice theory with behavioral models and findings  in psychology, neuroscience, evolutionary biology, and animal behavior.  The book addresses the fundamental idea within economics that behaviors  are chosen, and it explains why other disciplines disagree. The  chapters touch on modeling behavior, judging behavior, and policies. 

Morey  breaks down judgment using the ethics of welfare economics, and it  compares and contrasts this recognized approach with others, including  Mill’s liberalism, virtue ethics, duty-based ethics, Buddhist ethics,  and utilitarianism.