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Preference Dilemma in Economics

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  • Ondřej Vojáček
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    Abstract

    The paper deals with the different concepts of the human economic preferences in the point of view of the different economic schools, which deals with this topic. The paper begins with the description of the neoclassical concept of the preferences theory, followed by the critical analysis of Samuelsson´s concept of the revealed preferences. Further the attention is being paid to the Rothbard´s concept of the demonstrated preferences and unprecedented Becker´s concept of the stable preferences. The paper concludes with the alternative concepts of preferences of behavioral economics, Lancaster approach and evolutional theory.

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    Bibliographic Info

    Article provided by University of Economics, Prague in its journal Politická ekonomie.

    Volume (Year): 2011 (2011)
    Issue (Month): 3 ()
    Pages: 345-358

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    Handle: RePEc:prg:jnlpol:v:2011:y:2011:i:3:id:795:p:345-358

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    Related research

    Keywords: weak axiom; stable preferences; revealed preferences; preferences; demonstrated preferences;

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    References

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    1. Danny Campbell & W George Hutchinson & Riccardo Scarpa, 2009. "Using choice experiments to explore the spatial distribution of willingness to pay for rural landscape improvements," Environment and Planning A, Pion Ltd, London, vol. 41(1), pages 97-111, January.
    2. B. Douglas Bernheim & Antonio Rangel, 2005. "Behavioral Public Economics: Welfare and Policy Analysis with Non-Standard Decision-Makers," Discussion Papers 04-033, Stanford Institute for Economic Policy Research.
    3. K. K. Lancaster, 2010. "A New Approach to Consumer Theory," Levine's Working Paper Archive 1385, David K. Levine.
    4. Cameron Hepburn, 2003. "Hyperbolic Discounting and Resource Collapse," Economics Series Working Papers 159, University of Oxford, Department of Economics.
    5. Stigler, George J & Becker, Gary S, 1977. "De Gustibus Non Est Disputandum," American Economic Review, American Economic Association, vol. 67(2), pages 76-90, March.
    6. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
    7. Sen, Amartya K, 1973. "Behaviour and the Concept of Preference," Economica, London School of Economics and Political Science, vol. 40(159), pages 241-59, August.
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