Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/214278
Authors: 
Frey, Bruno S.
Benz, Matthias
Stutzer, Alois
Year of Publication: 
2003
Series/Report no.: 
CREMA Working Paper 2003-02
Abstract: 
People not only care about outcomes, they also value the procedures which lead to the outcomes. Procedural utility is a potentially important source of human well-being. This paper aims at introducing the concept of procedural utility into economics, and argues that it should be incorporated more widely into economic theory and empirical research. Three building blocks of a concept of procedural utility are outlined and it is suggested how procedural utility can be fruitfully integrated. Evidence from a broad range of social sciences is reviewed in order to show that procedural utility is a relevant concept for economics.
Subjects: 
procedural utility
outcome utility
institutions
JEL: 
A00
A12
D60
D70
Document Type: 
Working Paper

Files in This Item:
File
Size
376.23 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.