RMI 2302 TOP Exam Questions and CORRECT Answers
free market fails to protect consumer interests requiring the government to find appropriate ways to protect us from ourselves; rewards those people who understand consumer behavior and can exploit consumer's weaknesses In a world dominated by rational behavior... the government could focus on externalities and focus less on consumers Jeremy Bentham (19th century) Urged politicians to design policies that maximized peoples happiness, increasing their pleasures and reducing their pains. No good way to measure people's hedonic wellbeing Daniel Kahneman (recent years) Due to the fact that scientific measurement of wellbeing has advanced significantly, Kahneman is trying to bring policy making back to Bentham Who are the supporters of Kahneman? Ed Diener and Martin Seligman and Barry Schwartz
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