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Book part
Publication date: 23 October 2023

Glenn W. Harrison and Don Ross

Behavioral economics poses a challenge for the welfare evaluation of choices, particularly those that involve risk. It demands that we recognize that the descriptive account of…

Abstract

Behavioral economics poses a challenge for the welfare evaluation of choices, particularly those that involve risk. It demands that we recognize that the descriptive account of behavior toward those choices might not be the ones we were all taught, and still teach, and that subjective risk perceptions might not accord with expert assessments of probabilities. In addition to these challenges, we are faced with the need to jettison naive notions of revealed preferences, according to which every choice by a subject expresses her objective function, as behavioral evidence forces us to confront pervasive inconsistencies and noise in a typical individual’s choice data. A principled account of errant choice must be built into models used for identification and estimation. These challenges demand close attention to the methodological claims often used to justify policy interventions. They also require, we argue, closer attention by economists to relevant contributions from cognitive science. We propose that a quantitative application of the “intentional stance” of Dennett provides a coherent, attractive and general approach to behavioral welfare economics.

Details

Models of Risk Preferences: Descriptive and Normative Challenges
Type: Book
ISBN: 978-1-83797-269-2

Keywords

Abstract

Details

Overlapping Generations: Methods, Models and Morphology
Type: Book
ISBN: 978-1-83753-052-6

Open Access
Article
Publication date: 14 November 2023

Blessing Katuka, Calvin Mudzingiri and Peterson K. Ozili

This study aims to examine the impact of fiscal space and governance quality on inclusive growth in African countries.

Abstract

Purpose

This study aims to examine the impact of fiscal space and governance quality on inclusive growth in African countries.

Design/methodology/approach

In total, 28 African countries were analyzed from 2000 to 2020 using the generalized method of moment regression method. An inclusive growth index was developed using the principal component analysis (PCA) method. The PCA-derived index incorporates factors such as poverty, income inequality, economic participation and per capita income.

Findings

The main findings suggest that fiscal space availability (de facto fiscal space and fiscal balance) promotes inclusive growth. The study also showed that lagged inclusive growth, digitalization and governance indicators positively influence inclusive growth. The study concludes that fiscal space availability fosters inclusive growth, but this effect is mediated by governance quality in Africa.

Originality/value

Several studies examined the role of fiscal policy on inclusive growth. However, it is crucial to assess the fiscal space, that is, the financial capacity of the government to implement its fiscal policy without harming its financial stability. This paper, therefore, contributes to the existing literature by using de facto fiscal space indicator to comprehend fiscal dynamics contributing to inclusive growth. In addition, the paper uniquely constructs an inclusive growth index by including poverty severity, which considers both the incidence and depth of poverty and inequality in society.

Details

Journal of Financial Economic Policy, vol. 16 no. 1
Type: Research Article
ISSN: 1757-6385

Keywords

Article
Publication date: 2 January 2024

Nazia Begum, Muhammad Tariq, Noor Jehan and Farah Khan

The measurement of women's economic welfare and exploring its underlying factors have been undervalued in the context of Khyber Pakhtunkhwa, Pakistan. This study addressed this…

Abstract

Purpose

The measurement of women's economic welfare and exploring its underlying factors have been undervalued in the context of Khyber Pakhtunkhwa, Pakistan. This study addressed this gap by focusing on assessing women's subjective economic welfare and its socioeconomic and cultural determinants in the education and health sectors within Mardan, Northern Pakistan.

Design/methodology/approach

The study used stratified random sampling techniques for the selection of sample respondents and collected data through a well-structured questionnaire. To measure women’s economic welfare, the study utilizes Lorenz curves, the Gini index, the Sen Social Welfare function and an individual's gross monthly income. Furthermore, the ordinary least squares method was utilized to analyze the determinants of economic welfare.

Findings

The findings show greater income inequality and a lower welfare level for women in the education sector compared to the health sector. Likewise, the study identifies several key determinants, such as age, educational qualification, job experience, respect for working women, outside and work-place problems and the suffering of family members of working women for their economic well-being.

Originality/value

This study makes valuable contributions to the literature by focusing on the cultural perspective of Pakhtun women in Mardan and providing a context-specific understanding of subjective economic welfare. Additionally, the authors collected first-hand data, which gave an original outlook on working women's current economic welfare level. Furthermore, this study undertakes a comparative analysis of working women's welfare in the health and education sectors. This comparison offers a more accurate portrayal of the challenges and opportunities specific to these occupations.

Peer review

The peer-review history for this article is available at: https://publons.com/publon/10.1108/IJSE-04-2023-0246

Details

International Journal of Social Economics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 12 January 2024

Li Huang, Xi Song, Matthew Tingchi Liu, Wen-yu Chang and Guicheng James Shi

The purpose of this study is to provide a nuanced understanding of the marketing placebo effect (MPE) of products with reduced sugar labeling and how it forms certain perceptual…

Abstract

Purpose

The purpose of this study is to provide a nuanced understanding of the marketing placebo effect (MPE) of products with reduced sugar labeling and how it forms certain perceptual underpins (perceived healthiness (PH) and perceived tastiness (PT)), with the potential effect of product category and social class in consideration.

Design/methodology/approach

The proposed model is tested using a sample of 822 participants by employing partial least squares structural equation modeling (PLS-SEM). Hypothetical relationships among MPE, PH, PT, purchase intention (PI) and social class are examined for both hedonic and utilitarian products.

Findings

The results highlight the positive role of MPE in leveraging consumer PI through the parallel mediation of PH and PT. The positive effect of MPE on PH and PT was more pronounced for the utilitarian product. In addition, social class negatively moderated the relationship between PH and PI only in the case of the utilitarian product.

Originality/value

This paper contributed to the MPE literature in the food industry by challenging the conventional intuition of “Unhealthy = Tasty” and highlighting the potential of perceived food healthiness to positively influence perceived food tastiness under the effect of MPE. An upper social class would attenuate the positive effect of perceived food healthiness on PI.

Details

Asia Pacific Journal of Marketing and Logistics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-5855

Keywords

Content available
Book part
Publication date: 4 September 2023

Stephen E. Spear and Warren Young

Abstract

Details

Overlapping Generations: Methods, Models and Morphology
Type: Book
ISBN: 978-1-83753-052-6

Abstract

Details

Responsible Investment Around the World: Finance after the Great Reset
Type: Book
ISBN: 978-1-80382-851-0

Open Access
Article
Publication date: 3 October 2023

Patricia Frericks

The family is one of the foundations of society; its significance for societal redistribution in modern societies, though, remains particularly unclear. A major reason for this is…

Abstract

Purpose

The family is one of the foundations of society; its significance for societal redistribution in modern societies, though, remains particularly unclear. A major reason for this is that theoretical approaches to societal redistribution have not adequately included family either in social philosophy or in welfare state theory. As a consequence, also empirical analyses of differences and developments in societal redistribution have not included family or only in as far as family is affected by other redistributive principles. This paper contributes to filling this theoretical gap.

Design/methodology/approach

This paper theorises family as a redistributive principle. With reference to the major theoretical concepts of redistribution, it identifies the relevant dimensions of family in societal redistribution and develops a typology of its inclusion in societal redistribution.

Findings

Approaches to redistribution are shaped by distinct concepts of equal or unequal exchange, the relevant actors they identify and by different understandings of the economy. These distinctions are central to understanding the position of family in societal redistribution. With reference to the major theoretical concepts of redistribution, this paper identifies the relevant dimensions of family in societal redistribution and develops a typology of its inclusion in societal redistribution. Further investigations might draw on this typology and detect the theoretical foundations of its conceptualisations and its similarities to and deviations from the developed types.

Originality/value

This paper provides a theoretical groundwork for theoretical and empirical investigations of societal redistribution and for better comprehending its international variation. It aims to initiate a fundamental rethinking of the usual understanding of societal redistribution that widely ignores family as a redistributive principle of its own.

Details

International Journal of Sociology and Social Policy, vol. 43 no. 13/14
Type: Research Article
ISSN: 0144-333X

Keywords

Article
Publication date: 16 June 2022

Sigita Doblytė and Aroa Tejero

Public willingness to pay for extra public benefits and services may demonstrate a tension between the common good (more services) and economic motives (higher taxes for all). In…

Abstract

Purpose

Public willingness to pay for extra public benefits and services may demonstrate a tension between the common good (more services) and economic motives (higher taxes for all). In this article, the authors present an analysis of this trade-off by drawing upon the Bourdieusian theory of social reproduction and habitus.

Design/methodology/approach

Employing the European Social Survey (2016), the authors first examine the patterns of relationships between the agents' position in the social structure and their attitudes across care regimes in Europe. The authors then analyse whether this link is mediated by agents' individual trajectories and dispositions, such as their beliefs towards equality or tradition, political orientation, or religiosity.

Findings

The findings support the importance of both sociation and individuation in habitus formation, albeit to varying degrees across the regimes. Individual attitudes are therefore shaped not only by interests of reproducing or maximising social positions but also by more reflexive propensities to think about the common good.

Originality/value

In this article, the authors draw upon the theory of social reproduction and habitus by Pierre Bourdieu, who has been thus far rarely employed in the study of welfare attitudes. The article also contributes to the literature that studies the trade-off between the expansion and financing of reconciliation policies.

Details

International Journal of Sociology and Social Policy, vol. 43 no. 5/6
Type: Research Article
ISSN: 0144-333X

Keywords

Abstract

Details

Overlapping Generations: Methods, Models and Morphology
Type: Book
ISBN: 978-1-83753-052-6

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