Economists traditionally model choice as the maximization of a stable utility function. A simple way of modeling envy (though not the only one) is by adding a term which is a negative function of the consumption of the other agent(s) in one's own utility function. This paper briefly reviews some...

This paper employs neurobehavioral and psychological evidence to argue that anger is an emotion arising from significant cognitive processing, one that, in relation to economic decision-making, may be subtly mediated by many factors (including intentions). Anger is an emotion implying a higher...

This paper evaluates the rationality of anger in the light of a standard notion of economic rationality. Whether anger is rational or otherwise cannot be answered in general, but will depend on the economic setting. As long as anger can be explained as a preference in a parsimonious and stable...