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Psychologists report that people make choices on the basis of "decision utilities'' that routinely overestimate the "experienced utility'' consequences of these choices. This paper argues that this dichotomy between decision and experienced utilities may be the solution to an evolutionary design...
Persistent link: https://www.econbiz.de/10011691165
Recent research in neuroscience suggests that utility is cardinal. This focuses attention on the adaptation of utility, as plausibly arises from a limited capacity to make fine distinctions. The present focus is on real time adaptation. The simple mechanism proposed adapts to an arbitrary...
Persistent link: https://www.econbiz.de/10013302827
Recent research in neuroscience suggests that utility is cardinal. This focuses attention on the adaptation of utility, as plausibly arises from a limited capacity to make fine distinctions. The present focus is on real time adaptation. The simple mechanism proposed adapts to an arbitrary...
Persistent link: https://www.econbiz.de/10013302829
Why did evolution not give us a utility function that is offspring alone? Why do we care intrinsically about other outcomes, such as food, and what determines the intensity of such preferences? A common view is that such other outcomes enhance fitness and the intensity of our preference for a...
Persistent link: https://www.econbiz.de/10010895633
Why did evolution not give us a utility function that is offspring alone? Why do we care intrinsically about other outcomes, food, for example, and what determines the intensity of such preferences? A common view is that such other outcomes enhance fitness and the intensity of our preference for...
Persistent link: https://www.econbiz.de/10010895657
Why did evolution not give us a utility function that is offspring alone? Why do we care intrinsically about other outcomes, such as food, and what determines the intensity of such preferences? A common view is that such other outcomes enhance fitness and the intensity of our preference for a...
Persistent link: https://www.econbiz.de/10013082930