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  • Search: subject:"Utility maximization Adaptation Behavioral economics"
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Utility maximization Adaptation Behavioral economics 1
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Bradford, W. David 1 Dolan, Paul 1
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Journal of Health Economics 1
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Getting used to it: The adaptive global utility model
Bradford, W. David; Dolan, Paul - In: Journal of Health Economics 29 (2010) 6, pp. 811-820
This paper expands the standard model of utility maximization to endogenize the ubiquitous phenomenon of adaptation. We assume that total utility is an aggregate function of the utility associated with different domains of life, with relative weights that are optimized according to the effort...
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