Mispredicting Utility and the Political Process

In important situations, individual decision-making is systematically biased. Whendeciding (rather than consuming), extrinsic attributes of choice options are more salient thanintrinsic attributes. People overestimate extrinsic attributes and therefore put too much effortinto acquiring income and gaining status, lowering their utility level...

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Year of publication:	2005-03-04
Authors:	Frey, Bruno S. ; Stutzer, Alois
Institutions:	Institut für Empirische Wirtschaftsforschung <Zürich>
Published in:	CREMA - Center for Research in Economics, Management and the Arts - Publikationen For: Ed McCaffery and Joel Slemrod (eds) (2006). Behavioral Public Finance:Toward a New Agenda. New York: Russell Sage Foundation
Subject:	Politischer Prozess \| political process \| Anpassung \| Attribut \| extrinsic/intrinsic attributes \| Prognosefehler

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Extent:	321536 bytes 44 p. application/pdf
Type of publication:	Article
Language:	English
Classification:	A12 - Relation of Economics to Other Disciplines ; D11 - Consumer Economics: Theory ; D84 - Expectations; Speculations ; H11 - Structure, Scope, and Performance of Government ; H40 - Publicly Provided Goods. General ; I31 - General Welfare; Basic Needs; Quality of Life ; J22 - Time Allocation and Labor Supply ; Strategic management ; Sociological and psychological aspects ; Market research ; Individual Articles ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005868512