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Hierarchical Choice in Economics

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  • Drakopoulos, S A

Abstract

The paper examines the relevance for economic issues of choice which is not characterized by unlimited substitutability. After showing that hierarchical choice is common in other social sciences like psychology, the paper proceeds with an examination of such choice and of its different categories. Subsequently the implications for hierarchical choice for specific economic issues are analysed. In particular, there is discussion and literature review of demand theory, Engel curves, the theory of the firm and social choice theory. Finally, some suggestions for the application to other economic problems are considered. Copyright 1994 by Blackwell Publishers Ltd

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Bibliographic Info

Article provided by Wiley Blackwell in its journal Journal of Economic Surveys.

Volume (Year): 8 (1994)
Issue (Month): 2 (June)
Pages: 133-53

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Handle: RePEc:bla:jecsur:v:8:y:1994:i:2:p:133-53

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0950-0804

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Cited by:
  1. Drakopoulos, Stavros A., 2005. "The paradox of Happiness: towards an alternative explanation," MPRA Paper 6870, University Library of Munich, Germany.
  2. Drakopoulos, Stavros A. & Grimani, Katerina, 2013. "Maslow’s Needs Hierarchy and the Effect of Income on Happiness Levels," MPRA Paper 50987, University Library of Munich, Germany.
  3. Kemp-Benedict, Eric, 2013. "Material needs and aggregate demand," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 44(C), pages 16-26.
  4. Earl, Peter E. & Wakeley, Tim, 2010. "Economic perspectives on the development of complex products for increasingly demanding customers," Research Policy, Elsevier, vol. 39(8), pages 1122-1132, October.
  5. Beaudreau, Bernard C., 2012. "A humanistic theory of economic behavior," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(2), pages 222-234.
  6. Célia Berchi & Jean-Marc Dupuis & Guy Launoy, 2006. "The reasons of general practitioners for promoting colorectal cancer mass screening in France," The European Journal of Health Economics, Springer, vol. 7(2), pages 91-98, June.
  7. Drakopoulos, Stavros A., 2007. "Comparison Wage in Trade Union Decision Making," MPRA Paper 46287, University Library of Munich, Germany.
  8. Andreas Chai & Alessio Moneta, 2011. "Back to Engel? Some evidence for the hierarchy of needs," Papers on Economics and Evolution 2011-13, Philipps University Marburg, Department of Geography.
  9. Drakopoulos, S. A. & Theodossiou, I., 1997. "Job satisfaction and target earnings," Journal of Economic Psychology, Elsevier, vol. 18(6), pages 693-704, November.
  10. Jo, Tae-Hee, 2012. "Financing investment under fundamental uncertainty and instability: A heterodox microeconomic view," MPRA Paper 39450, University Library of Munich, Germany.
  11. Foster, Michele M. & Earl, Peter E. & Haines, Terry P. & Mitchell, Geoffrey K., 2010. "Unravelling the concept of consumer preference: Implications for health policy and optimal planning in primary care," Health Policy, Elsevier, vol. 97(2-3), pages 105-112, October.
  12. Scott, Anthony, 2001. "Eliciting GPs' preferences for pecuniary and non-pecuniary job characteristics," Journal of Health Economics, Elsevier, vol. 20(3), pages 329-347, May.
  13. Spash, Clive L., 2000. "Ecosystems, contingent valuation and ethics: the case of wetland re-creation," Ecological Economics, Elsevier, vol. 34(2), pages 195-215, August.
  14. Scott, Anthony, 2002. "Identifying and analysing dominant preferences in discrete choice experiments: An application in health care," Journal of Economic Psychology, Elsevier, vol. 23(3), pages 383-398, June.
  15. Drakopoulos, Stavros A., 1995. "Towards a Hierarchical Approach to Trade Union Behaviour," MPRA Paper 15597, University Library of Munich, Germany.
  16. Drakopoulos, Stavros, 2011. "Hierarchical Needs, Income Comparisons and Happiness Levels," MPRA Paper 48343, University Library of Munich, Germany.
  17. Lavoie, Marc, 2004. "Post Keynesian consumer theory: Potential synergies with consumer research and economic psychology," Journal of Economic Psychology, Elsevier, vol. 25(5), pages 639-649, October.
  18. Mandy Ryan & Mabelle Amaya-Amaya, 2005. "' Threats ' to and hopes for estimating benefits," Health Economics, John Wiley & Sons, Ltd., vol. 14(6), pages 609-619.

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