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Kantian Ethics and EconomicsAutonomy, Dignity, and Character$
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Mark White

Print publication date: 2011

Print ISBN-13: 9780804768948

Published to Stanford Scholarship Online: June 2013

DOI: 10.11126/stanford/9780804768948.001.0001

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Consent, Pareto, and Behavioral Law and Economics

Consent, Pareto, and Behavioral Law and Economics

(p.163) Chapter 5 Consent, Pareto, and Behavioral Law and Economics
Kantian Ethics and Economics
Stanford University Press

This chapter explores how consent ensures that people get the respect they deserve by virtue of their dignity. It first considers Pareto superiority and elaborates on Immanuel Kant's position on coercion and deceit before asking whose consent is necessary in a given situation. It then looks at the relatively new and popular field of behavioral economics, particularly behavioral law and economics. Behavioral economics incorporates insights from experimental psychology and economics to account for anomalies in rational decision-making, such as endowment effects, weakness of will, and inaccurate risk assessment. However, behavioral economists still view rational choice as a deterministic process whereby a decision is made on the basis of preferences, constraints, and beliefs.

Keywords:   consent, Pareto superiority, dignity, Immanuel Kant, coercion, deceit, behavioral law and economics, decision-making, rational choice, preferences

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