Who uses the cost-benefit rules of choice? implications for the normative status of microeconomic theory

Journal Article (Journal Article)

We find three factors to be associated with use of cost-benefit rules in everyday decisions. These are effectiveness in achieving desirable life outcomes, intelligence, and training in economics. We argue that these empirical findings support the claim that cost-benefit reasoning is normative. © 1993 Academic Press, Inc.

Full Text

Duke Authors

Cited Authors

  • Larrick, RP; Nisbett, RE; Morgan, JN

Published Date

  • January 1, 1993

Published In

Volume / Issue

  • 56 / 3

Start / End Page

  • 331 - 347

International Standard Serial Number (ISSN)

  • 0749-5978

Digital Object Identifier (DOI)

  • 10.1006/obhd.1993.1058

Citation Source

  • Scopus