DeLong Smackdown Watch: Lexicographic Preferences
Nemi writes:
Robert Murphy Joins the "It's Immoral to Tax Americans to Destroy an Asteroid" Caucus - Grasping Reality with a Sharp Beak: From what I´m reading on this blog – you seem to be an excellent economist.
But, your blind spot towards your own profession is something that is repeating itself over and over again.
What about “We economists do not like lexicographic preference…”. Really? Wow!
Do you honestly believe that these kind of libertarian lunatics (who would answer like Volokh, at least in private) is LESS common among economists compared to the population at large (or any other group for that matter)? I´m not saying that most economists are libertarians – I think they are very few – but the ratio is certainly a lot bigger than among any other group of people.
I´m sure there exist studies on this - if anyone know of one that support or falsify my hypothesis, please share.
We economists commit many sins, but IMHO lexicographic preferences is one of the few that we do not commit. There are always tradeoffs, and we are always optimizing between alternatives along some margin...
