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dc.contributor.authorFabella, Raul V.en_US
dc.description.abstractThe Great Recession has called into question many tenets of Neo-classical Microeconomics. Neo-classical theory allows each agent only one fixed type, homo economicus, while not denying other possible types as in adverse selection. We propose that economic agents not only choose their market basket but also their types. Agents are members of groups and each group has social norms to which the agent more or less conforms. His/her market behavior trades off private well being which responds to prices but also social well being which responds to norms. We show how deviation from norms are determined. We also discuss other anomalies in the light of this model.en_US
dc.publisher|aSchool of Economics, Univ. of the Philippines |cQuezonen_US
dc.relation.ispartofseries|aDiscussion paper // School of Economics, University of the Philippines |x2010,12en_US
dc.subject.stwSoziale Normen_US
dc.subject.stwRationales Verhaltenen_US
dc.subject.stwMikroökonomische Konsumfunktionen_US
dc.titleA multi-level choice theoryen_US
dc.typeWorking Paperen_US

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