A theory of chosen preferences
By: Bernheim, B. and Douglas et al
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Material type: 
BookPublisher: The American Economic Review Description: 3(2), Feb, 2021: p.720-754.Subject(s): Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification
In:
The American Economic ReviewSummary: We propose and develop a dynamic theory of endogenous preference formation in which people adopt worldviews that shape their judgments about their experiences. The framework highlights the role of mindset flexibility, a trait that determines the relative weights the decision-maker places on her current and anticipated worldviews when evaluating future outcomes. The theory generates rich behavioral dynamics, thereby illuminating a wide range of applications and providing potential explanations for a variety of observed phenomena. – Reproduced
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Articles
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Indian Institute of Public Administration | 3(2), Feb, 2021: p.720-754 | Available | AR125179 |
We propose and develop a dynamic theory of endogenous preference formation in which people adopt worldviews that shape their judgments about their experiences. The framework highlights the role of mindset flexibility, a trait that determines the relative weights the decision-maker places on her current and anticipated worldviews when evaluating future outcomes. The theory generates rich behavioral dynamics, thereby illuminating a wide range of applications and providing potential explanations for a variety of observed phenomena. – Reproduced
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