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http://hdl.handle.net/10419/57558
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| Title: | | Role models that make you unhappy: Light paternalism, social learning and welfare  |
| Authors: | | Cordes, Christian Schubert, Christian |
| Issue Date: | | 2010 |
| Series/Report no.: | | Papers on economics and evolution 1022 |
| Abstract: | | Behavioral (e.g. consumption) patterns of boundedly rational agents can lead these agents into learning dynamics that appear to be wasteful in terms of well-being or welfare. Within settings displaying preference endogeneity, it is however still unclear how to conceptualize well-being. This paper contributes to the discussion by suggesting a formal model of preference learning that can inform the construction of alternative notions of dynamic well-being. Based on the assumption that interacting agents are subject to two biases that make them systematically prefer some cultural variants over others, a procedural notion of well-being can be developed, based on the idea that policy should identify and confine conditions that generate dynamic instability in preference trajectories. |
| Subjects: | | Social Learning Preference Change Welfare Human Cognition Consumer Behavior |
| JEL: | | D63 O12 D11 D83 C61 |
| Persistent Identifier of the first edition: | | urn:nbn:de:gbv:27-20110630-110118-0 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Papers on Economics and Evolution, MPI für Ökonomik
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