(Bloomberg View) — Usually, when economists think about how to improve the lives of people, they rely on introspection and theoretical assumptions.

Many an econ paper buries itself in abstract calculations of utility and welfare, deploying pages of equations to derive optimal rules of policy.

But there's a simpler, alternate approach to figuring out what kind of policies people want and need: Just ask them.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.