Hedonic adaptation and the role of decision and experience utility in public policy

Volume: 92, Issue: 8, Pages: 1795 - 1810
Published: Aug 1, 2008
Abstract
null null Many economists are becoming supportive of ‘soft’ paternalistic interventions that help people to avoid common decision errors without curtailing individual autonomy. To identify when such interventions could be beneficial, and to assess their success, requires a welfare criterion. However, traditional preference or choice-based criteria cannot serve this function because they assume that whatever people choose makes them better off....
Paper Details
Title
Hedonic adaptation and the role of decision and experience utility in public policy
Published Date
Aug 1, 2008
Volume
92
Issue
8
Pages
1795 - 1810
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