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| Author: | Tomer, J. |
| Title: | Good habit and bad habits: a new age socio-economic model of preference formation |
| Journal: | Journal of Socio-Economics
1996 : VOL. 25:6, p. 619-638 |
| Index terms: | SOCIAL ECONOMICS MODELS PREFERENCES |
| Language: | eng |
| Abstract: | In contrast to neoclassical economics which generally takes consumer preferences as given, the model developed here explains how a person's preferences for consumer goods change over time and may change for the better or worse. This is a four self model. The four selves correspond to four types of preferences: actual preferences, metapreferences, true preferences, and unrestrained preferences. An individual's initial actual preferences reflecting one's investment in consumption capital are likely to change to the extent that they differ either from ones metapreferences or one's unrestrained preferences. |
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