Itai Sher from the University of Massachusetts Amherst will give a talk on the topic “Reasons and Preferences” at Virginia Tech. The talk takes place on November 29, 2017, from 4-6 PM in Holden Auditorium. The talk is tailored to appeal to both students and faculty, with plenty of time for discussion and interaction with the guest speaker. You are cordially invited to attend.
Here is the abstract of the talk: The notion of preferences is fundamental to welfare analysis in economics, and one of the most basic principles concerning preferences is the Pareto principle: If everyone prefers x to y, then x ought to be socially preferred to y. The notion of preference that is used in economics does not include a representation of the reasons that people have for their preferences. Yet it is essential to preferences that people have reasons for holding them. This paper considers the consequences of taking reasons seriously. In particular it considers criticisms that have been leveled against the Pareto principle with an emphasis on the role of reasons for the preferences that people have. I consider two arguments for the Pareto principle, one that considers the satisfaction of preferences to be a good, and the other in terms of decision rights, which resonates with the anti-paternalistic rationales that are often given for Pareto. I find that neither argument fully justifies the principle.