A Reformulation of Normative Economics for Models with Endogenous Preferences

Preprint OPEN
Vipul Bhatt ; Masao Ogaki ; Yuichi Yaguchi (2014)
  • Subject: Moral virtue ethics, Welfarism, Cultural transmission of preferences, Tough love
    • jel: jel:Z18 | jel:D03

This paper proposes a framework to balance considerations of welfarism and virtue ethics in the normative analysis of economic models with endogenous preferences. We introduce the moral evaluation function (MEF), which ranks alternatives based purely on virtue ethics, a... View more
  • References (24)
    24 references, page 1 of 3

    Akkemik, Ali K., Mehmet Bulut, Marcus Dittrich, Koray Goksal, Kristina Leipold, and Masao Ogaki. 2013. \Worldviews and Intergenerational Altruism - A Comparison of Turkey and Germany." Unpublished.

    Barro, Robert J. 1974. \Are government bonds net wealth?" The Journal of Political Economy, 82(6): 1095{1117.

    Becker, Gary, and Kevin M. Murphy. 1988. \A Theory of Rational Addiction." The Journal of Political Economy, 96(4): 675{700.

    Benjamin, Daniel J., Ori He etz, Miles S. Kimball, and Nichole Szembrot. 2014. \Beyong Happiness and Satisfaction: Toward Well-Being Indices Based on Stated Prference." American Economic Review. forthcoming. 22

    Bhatt, Vipul, and Masao Ogaki. 2012. \Tough Love and Intergenerational Altruism." International Economic Review, 53: 791{814.

    Bhatt, Vipul, and Masao Ogaki. 2014. \Rational Addiction and Optimal Taxation: A Reexamination Based on the Social Objective Function." Unpublished.

    Bhatt, Vipul, Masao Ogaki, and Yuichi Yaguchi. 2013. \Normative Behavioral Economics Based on Unconditional Love and Moral Virtue." Paper presented at 10th Biennial Paci c Rim Conference, Western Economic Association International, Tokyo, Japan.

    Bisin, Alberto, and Thierry Verdier. 2011. \The Economics of Cultural Transmission and Socialization." In Handbook of Social Economics. Vol. 1A, , ed. Alberto Bisin Jess Benhabib and Matthew O. Jackson, 339{416. The Netherlands: North-Holland:Elsevier.

    Bruni, Luigino, and Robert Sugden. 2013. \Market Reasoning as Moral Reasoning: Why Economists Should Re-engage with Political Philosophy." Journal of Economic Perspectives, 27: 141{164.

    Constantinides, George M. 1990. \Habit Formation: A Resolution of the Equity Premium Puzzle." The Journal of Political Economy, 98: 519{543.

  • Metrics
    No metrics available
Share - Bookmark