Hi armchairs,
I have a rather naive question that I hope you dont find inappropiate for
this list:
Stigler & Becker's "De gustibus non est disputandum" (1977) piece is in
almost all core microeconomics reading lists I am aware of... and many may
consider it as the (almost) definitive word in choice theory treatment of
preferences.
But what is the cash value of the approach nowadays? We hear from choice
anomalies in almost all fields of economics, game and decision theory, etc,
so I wonder if the argument set forth in that piece still holds water, if at
all...
