ECONOMIC MAN AS A MORAL INDIVIDUAL

ECONOMIC MAN AS A MORAL INDIVIDUAL

We propose a concrete method for including moral concerns in preferences. In our framework, the agent maximizes utility subject to constraints, but the utility from consuming a specific commodity bundle varies in a “lumpy” or “discontinuous” way with the concurrent moral content of the individual�...

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Bibliographic Details
Published in:Economic inquiry 1998-10, Vol.36 (4), p.645-653
Main Authors: DOWELL, RICHARD S., GOLDFARB, ROBERT S., GRIFFITH, WILLIAM B.
Format: Article
Language:eng
Subjects:
Car washes
Consumer preferences
Consumption
Earnings
Economic analysis
Economic models
Economic theory
Economics
Ethical aspects
Ethics
Morality
Preferences
Studies
Utility functions
Values
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Summary:We propose a concrete method for including moral concerns in preferences. In our framework, the agent maximizes utility subject to constraints, but the utility from consuming a specific commodity bundle varies in a “lumpy” or “discontinuous” way with the concurrent moral content of the individual's behavior. Our method also indicates how constraints vary with this moral content. Our approach seems more intuitively appealing than several competing frameworks, and can be used to explain a number of otherwise puzzling phenomena. (JEL D11, A13)
ISSN:0095-2583
1465-7295