The Opportunity Criterion: Consumer Sovereignty Without the Assumption of Coherent Preferences
The Opportunity Criterion: Consumer Sovereignty Without the Assumption of Coherent Preferences
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机会标准：不假设偏好一致的消费者主权
DOI：
10.1257/0002828042002714
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发表时间：
2004
期刊：
影响因子：
--
通讯作者：
R. Sugden
中科院分区：
文献类型：
--
作者：
R. Sugden
本文提出了一种用于规范经济学的消费者主权的提法，它并不预先假定个人的偏好是一致的。基本的直觉，即机会和责任具有道德价值，被正式化为评估资源分配系统的“机会标准”。提出了一个交换经济模型，在该模型中，理性套利者通过与非理性消费者进行交易来竞争获利。在均衡状态下，这种经济满足机会标准。对这一结果的一种解释是，在竞争环境中，货币注入的总体影响是良性的，即使个人的偏好不稳定或前后不一致。
This paper proposes a formulation of consumer sovereignty, for use in normative economics, which does not presuppose individuals' preferences to be coherent. The fundamental intuition, that opportunity and responsibility have moral value, is formalized as an "opportunity criterion" for assessing resource allocation systems. A model of an exchange economy is presented in which rational arbitrageurs compete to make profits by trading with nonrational consumers. In equilibrium, this economy satisfies the opportunity criterion. One interpretation of this result is that, in a competitive environment, the overall effects of money pumps are benign, even if individuals' preferences are unstable or incoherent.