Robin W. Boadway is Professor of Economics, Queen's University, Ontario, Canada andNeil Bruce is Professor of Economics, UCLA, USA.

• 1. The Descriptive Evidence, As We See It 3 A. Theoretical Context 3B. Experimental Evidence 52. Methodologies of Behavioral Welfare Economics from Economists 9A. Nudges and Boosts 9B. Randomized Evaluations in Search of “What Works” 11C. Behavioral Welfare Analysis Using “Frames” 12D. Identifying the Inner Utility Function 16E. Modeling Mistakes 17F. Reduced Form Inferences 203. Behavioral Welfare Economics with the Quantitative Intentional Stance 22A. The Intentional Stance 25B. An Illustrative Application 32C. Issues in the Application of the Quantitative Intentional Stance 37 Is Rationality Being Assumed? 37Are We Assuming Some True Risk Preference? 40Are We Assuming Stable Risk Preference? 42What About Source-Dependent Risk Preference? 44But Can’t I Just See What Works? 45How Much Structure is Needed? 46Why Just EUT and RDU? 48Why Ignore Loss Aversion? 49But There Is No Single, Correct Way to Elicit Risk Preferences 49What About Subjective Probabilities? 49What About Social Welfare? 504. Distinguishing Welfare from Well-Being 51A. Well-Being and Reflective Rationality 51B. Paternalism 575. Conclusions 68References 76

Robin W. Boadway is Professor of Economics, Queen's University, Ontario, Canada andNeil Bruce is Professor of Economics, UCLA, USA.

• 1. The Descriptive Evidence, As We See It 3 A. Theoretical Context 3B. Experimental Evidence 52. Methodologies of Behavioral Welfare Economics from Economists 9A. Nudges and Boosts 9B. Randomized Evaluations in Search of “What Works” 11C. Behavioral Welfare Analysis Using “Frames” 12D. Identifying the Inner Utility Function 16E. Modeling Mistakes 17F. Reduced Form Inferences 203. Behavioral Welfare Economics with the Quantitative Intentional Stance 22A. The Intentional Stance 25B. An Illustrative Application 32C. Issues in the Application of the Quantitative Intentional Stance 37 Is Rationality Being Assumed? 37Are We Assuming Some True Risk Preference? 40Are We Assuming Stable Risk Preference? 42What About Source-Dependent Risk Preference? 44But Can’t I Just See What Works? 45How Much Structure is Needed? 46Why Just EUT and RDU? 48Why Ignore Loss Aversion? 49But There Is No Single, Correct Way to Elicit Risk Preferences 49What About Subjective Probabilities? 49What About Social Welfare? 504. Distinguishing Welfare from Well-Being 51A. Well-Being and Reflective Rationality 51B. Paternalism 575. Conclusions 68References 76

Robin W. Boadway is Professor of Economics, Queen's University, Ontario, Canada andNeil Bruce is Professor of Economics, UCLA, USA.

• 1. The Descriptive Evidence, As We See It 3 A. Theoretical Context 3B. Experimental Evidence 52. Methodologies of Behavioral Welfare Economics from Economists 9A. Nudges and Boosts 9B. Randomized Evaluations in Search of “What Works” 11C. Behavioral Welfare Analysis Using “Frames” 12D. Identifying the Inner Utility Function 16E. Modeling Mistakes 17F. Reduced Form Inferences 203. Behavioral Welfare Economics with the Quantitative Intentional Stance 22A. The Intentional Stance 25B. An Illustrative Application 32C. Issues in the Application of the Quantitative Intentional Stance 37 Is Rationality Being Assumed? 37Are We Assuming Some True Risk Preference? 40Are We Assuming Stable Risk Preference? 42What About Source-Dependent Risk Preference? 44But Can’t I Just See What Works? 45How Much Structure is Needed? 46Why Just EUT and RDU? 48Why Ignore Loss Aversion? 49But There Is No Single, Correct Way to Elicit Risk Preferences 49What About Subjective Probabilities? 49What About Social Welfare? 504. Distinguishing Welfare from Well-Being 51A. Well-Being and Reflective Rationality 51B. Paternalism 575. Conclusions 68References 76