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doi: 10.2139/ssrn.771904
handle: 10419/26867 , 11858/00-001M-0000-0028-6FC8-7
In this paper I demonstrate that a reasonable welfare theoretic concept of progress can be made consistent with the assumption of endogenously changing preferences as long as these preference changes correspond to the pattern of adaptive preferences. The main theorem of the paper shows that under certain additional conditions adaptive preferences imply the existence of a complete pre-ordering of the consumption space in terms of improvement paths which allow endogenous preference changes. It is then shown that welfare economics of improvement paths is also possible with interpersonal influences on preferences. A conjecture is developed that results of recent empirical and experimental research into human economic behaviour corroborate the hypothesis of adaptive preferences.
Adaptive Preferences, ddc:330, Improvement Paths, Bounded Rationality, Welfare Economics, Interpersonal Influences on Preferences, Welfare Economics, Endogenous Preferences, Adaptive Preferences, Interpersonal Influences on Preferences, Improvement Paths, Bounded Rationality, Endogenous Preferences
Adaptive Preferences, ddc:330, Improvement Paths, Bounded Rationality, Welfare Economics, Interpersonal Influences on Preferences, Welfare Economics, Endogenous Preferences, Adaptive Preferences, Interpersonal Influences on Preferences, Improvement Paths, Bounded Rationality, Endogenous Preferences
citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically). | 17 | |
popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network. | Top 10% | |
influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically). | Top 10% | |
impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network. | Average |