Revealed preference is my cheeky answer here. “If I had infinite time/money” and “what I am willing to do IRL” are two different types of “want”, and I was talking more about the latter.
Your argument seemed to be that the fertility fall is not just a temporary thing where people’s want is currently overwhelmed by other factors, but a stronger diswant that cannot be counterbalanced by shifting those factors. Revealed preference only shows what things are like with the current balance of factors.
Revealed preference is my cheeky answer here. “If I had infinite time/money” and “what I am willing to do IRL” are two different types of “want”, and I was talking more about the latter.
Your argument seemed to be that the fertility fall is not just a temporary thing where people’s want is currently overwhelmed by other factors, but a stronger diswant that cannot be counterbalanced by shifting those factors. Revealed preference only shows what things are like with the current balance of factors.
I don’t expect the factors to change, they are downstream of our social fabric. A different society won’t have these factors, but ours does
(sorry for the long delay)