Endogenous preference formation free
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The endogenous preferences formation approach was first applied to three types of preferences that have long been recognized as critical for growth: time preference ( Becker and Mulligan, 1997, Michel and Vidal, 2003 ), the formation of parental altruism ( Mulligan, 1997 ), and riskaversion ( PalaciosHuerta and Santos, 2004 ).
Most of the literature on endogenous preferences concentrates on habit formation as a source of endogenous preferences. This literature begins with C. C. von Weizsackers Notes on endogenous change of tastes (von Weizsacker 1971) and is followed by Pollak (1970).
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Economics has a vast literature on habit formation and endogenous preference formation which considers that an individuals preference depends on his past consumption history and investmen ts.
This section also discusses some of the most common criticisms of rational choice as an approach to human behavior, with an emphasis on its purported methodological pathologies and (lack of) empirical fruitfulness, and its alleged inability to theorize about endogenous preference formation or change.
Request PDF on ResearchGate Endogenous preference formation on macroeconomic issues: The role of individuality and social conformity Macroeconomic events often require individuals and policy
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