A Reformulation of Normative Economics for Models with Endogenous Preferences

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Vipul Bhatt; Masao Ogaki; Yuichi Yaguchi;
  • 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
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