EVEN Symposium

EVEN is a multidisciplinary initiative that initiates research and stimulates discussion on individual and societal decision making that is aligned with long-term goals and values in society. They currently work on the intersection between behavioural economics, welfare economics, social choice, and philosophy. EVEN is a joint initiative of scholars affiliated to the Erasmus School of Philosophy, the Erasmus Institute of Philosophy and Economics, the Erasmus School of Economics, and the Erasmus School of Health Policy & Management.

Welfare economics has always been concerned with maximizing social welfare. Traditionally, social welfare is seen as a function of individual welfare, and individual welfare in turn as the satisfaction of preferences as they are revealed in individual choices. With the rise of behavioural economics, aiming at including psychological insights into economic theory, the view that preferences and choices provide a reliable indicator of individual welfare has been called into question. Choice behaviour can be influenced by biases and limitations, implying that choices may not be ‘optimal’, and may not be driven by stable, context-independent preferences. Responses like nudging or correcting choices for biases appear to become more frequent. This leads to important normative questions, both regarding the maximand of social welfare, and whether and how to influence choices to improve individual welfare.

In this symposium, these normative issues in behavioural welfare economics are addressed from both the economic and the philosophical angle. We have three renowned speakers who will provide three distinct views on this important topic.

Our keynote speaker is professor Robert Sugden, professor of Economics at the University of East-Anglia, who will address these matters drawing on his new book 'The Community of Advantage - A Behavioural Economist's Defence of the Market'.  

After this, Constanze Binder, associate professor of Philosophy at the Erasmus University Rotterdam, co-director of the Erasmus Institute for Philosophy and Economics, and author of the recently published book 'Agency, Freedom and Choice' will reflect on these normative issues from a philosophical angle. 

Finally, professor Peter Wakker, professor of Economics at the Erasmus University Rotterdam, who has published many seminal studies in the field of behavioural economics, including the authoritative book 'Prospect Theory: For Risk and Ambiguity', will provide his views on normative issues in behavioural welfare economics. 

Program
13:30   Opening 
13:45   The community of advantage - Robert Sugden 
14:45   Coffee break
15:15   The Community of Advantage and Limits of the Market - Constanze Binder    
15:45   Why Normative Economic Ordinalists HAD to Open up to Behavioral Insights - Peter Wakker     
16:15   Panel discussion 
16:45   Drinks

You can register here