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The economics of possible selves

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  • Teraji, Shinji

Abstract

This article proposes an economic model of how intentional self-change occurs. People have an array of possible selves. The self-system is multifaceted and dynamic, with different self-representations activated at different times. Comparison between the actual self and the ideal self has important motivational consequences. The response to perceived discrepancy can be shaped toward desired behavioral change. However, self-verification is also an important factor in the individual's motivational system. Self-verification is expected to undermine intentional self-change. Individuals may have an inert area within which they do not attempt self-change. The inert area idea permits both optimal and sub-optimal economic outcomes within the same model.

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Bibliographic Info

Article provided by Elsevier in its journal The Journal of Socio-Economics.

Volume (Year): 38 (2009)
Issue (Month): 1 (January)
Pages: 45-51

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Handle: RePEc:eee:soceco:v:38:y:2009:i:1:p:45-51

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Web page: http://www.elsevier.com/locate/inca/620175

Related research

Keywords: Possible selves Intentional self-change Inertia;

References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. Teraji, Shinji, 2007. "Morale and the evolution of norms," The Journal of Socio-Economics, Elsevier, vol. 36(1), pages 48-57, February.
  2. Loewenstein, George, 1996. "Out of Control: Visceral Influences on Behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 65(3), pages 272-292, March.
  3. Bénabou, Roland & Tirole, Jean, 2002. "Self Confidence and Personal Motivation," Open Access publications from University of Toulouse 1 Capitole http://neeo.univ-tlse1.fr, University of Toulouse 1 Capitole.
  4. John B. Davis, 2007. "Akerlof and Kranton on identity in economics: inverting the analysis," Cambridge Journal of Economics, Oxford University Press, vol. 31(3), pages 349-362, May.
  5. Samuel Bowles, 1998. "Endogenous Preferences: The Cultural Consequences of Markets and Other Economic Institutions," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 75-111, March.
  6. Moldoveanu, Mihnea & Stevenson, Howard, 2001. "The self as a problem: the intra-personal coordination of conflicting desires," The Journal of Socio-Economics, Elsevier, vol. 30(4), pages 295-330.
  7. Olivier Compte & Andrew Postlewaite, 2003. "Confidence-Enhanced Performance," PIER Working Paper Archive 03-009, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  8. George A. Akerlof & Rachel E. Kranton, 2000. "Economics And Identity," The Quarterly Journal of Economics, MIT Press, vol. 115(3), pages 715-753, August.
  9. Levine, Daniel S., 2006. "Neural modeling of the dual motive theory of economics," The Journal of Socio-Economics, Elsevier, vol. 35(4), pages 613-625, August.
  10. Altman, Morris, 2001. "Culture, human agency, and economic theory: culture as a determinant of material welfare," The Journal of Socio-Economics, Elsevier, vol. 30(5), pages 379-391.
  11. Daniel Kahneman, 2003. "Maps of Bounded Rationality: Psychology for Behavioral Economics," American Economic Review, American Economic Association, vol. 93(5), pages 1449-1475, December.
  12. Lynne, Gary D., 2006. "Toward a dual motive metaeconomic theory," The Journal of Socio-Economics, Elsevier, vol. 35(4), pages 634-651, August.
  13. Teraji, Shinji, 2008. "Culture, effort variability, and hierarchy," The Journal of Socio-Economics, Elsevier, vol. 37(1), pages 157-166, February.
  14. Bazin, Damien & Ballet, Jerome, 2006. "A basic model for multiple self," The Journal of Socio-Economics, Elsevier, vol. 35(6), pages 1050-1060, December.
  15. Lea, Stephen E.G. & Webley, Paul, 2005. "In search of the economic self," The Journal of Socio-Economics, Elsevier, vol. 34(5), pages 585-604, October.
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Citations

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Cited by:
  1. Teraji, Shinji, 2009. "A model of corporate social performance: Social satisfaction and moral conduct," The Journal of Socio-Economics, Elsevier, vol. 38(6), pages 926-934, December.
  2. Teraji, Shinji, 2011. "An economic analysis of social exclusion and inequality," The Journal of Socio-Economics, Elsevier, vol. 40(3), pages 217-223, May.

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