On the relevance of learning and evolution to economic theory

Article Abstract:

The body of literature on learning and social evolution can provide illumination on the empirical scope of the economic rationality hypothesis. There is evidence that is well explained by the rationality hypothesis although there is also sufficient evidence of behavior that does not easily lend itself to rationalization and that may be better clarified if perceived as 'nonrational' behavior. Studies on learning and social evolution provides an understanding of what influences which behavior is observed in practice. Unfortunately, research on learning and evolution is ignored by other economists.

Analysis, Learning, Rational expectations (Economics), Social evolution

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In defense of the Royal Commission 'Report on Transport and the Environment.' (UK Royal Commission on Environmental Pollution)(Policy Forum: Transport and the Environment)

Article Abstract:

The UK Royal Commission on Environmental Pollution's recommendation that transportation costs be raised to deter vehicle use and avoid the adverse environmental and social effects of road traffic growth is justifiable. In implementing such a policy, authorities should first establish targets for air quality, public transport use, automobile urban journeys and other relevant variables. They should then choose appropriate economic tools for achieving these goals. Among the more promising instruments are an increase in fuel duty and policies relating to road pricing in urban areas.

Evaluation

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Royal Commission 'Report on Transport and the Environment' - economic effects of recommendations

Article Abstract:

The Royal Commission on Environmental Pollution warned in its 'Report on Transport and the Environment' that the predicted doubling of road traffic by the year 2025 would have adverse environmental, economic and social consequences. It therefore called for the implementation of significant limitations to the evolution of the transport system and gave 110 recommendations on how transport resources could be allocated and used more efficiently. However, the proposals that fuel taxes be raised and trunk road construction be decreased are not well argued.

Economic aspects

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