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Arguing About Tastes: Modeling How Context and Experience Change Economic Preferences (Kenneth J. Arrow Lecture Series) - Softcover

 
9780231209915: Arguing About Tastes: Modeling How Context and Experience Change Economic Preferences (Kenneth J. Arrow Lecture Series)
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  • PublisherColumbia University Press
  • Publication date2023
  • ISBN 10 0231209916
  • ISBN 13 9780231209915
  • BindingPaperback
  • Number of pages216

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Book Description Paperback. Condition: new. Paperback. Mainstream economics considers individual preferences to be fixed and unchanging. Although psychologists and other social scientists explore how tastes are formed, influenced, and evolve, it is not considered "proper" in orthodox economics to do so. Arguing About Tastes makes the case that economists should abandon the principle that preferences are fixed and instead incorporate into their work how context and experience shape individual tastes.David M. Kreps argues that the discipline must account for dynamic personal tastes when it comes to understanding social exchange, emphasizing human resource management and on-the-job behavior. He develops formal models that illustrate the power of intrinsic motivation and show why applying extrinsic incentives can be counterproductive. Kreps weighs the advantages and disadvantages of the principle de gustibus non est disputandum: there is no arguing about tastes. He calls for a new era of economics in which preferences are taken into account-and not for granted.Arguing About Tastes concludes with responses by the distinguished economists Alessandra Casella and Joseph E. Stiglitz and a final reply by Kreps. Arguing About Tastes makes the case that economists should abandon the principle that preferences are fixed and instead incorporate into their work how context and experience shape individual tastes. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9780231209915

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