A model of non-informational preference change
AbstractAccording to standard rational choice theory, as commonly used in political science and economics, an agent's fundamental preferences are exogenously fixed, and any preference change over decision options is due to Bayesian information learning. Although elegant and parsimonious, such a model fails to account for preference change driven by experiences or psychological changes distinct from information learning. We develop a model of non-informational preference change. Alternatives are modelled as points in some multidimensional space, only some of whose dimensions play a role in shaping the agent's preferences. Any change in these 'motivationally salient' dimensions can change the agent's preferences. How it does so is described by a new representation theorem. Our model not only captures a wide range of frequently observed phenomena, but also generalizes some standard representations of preferences in political science and economics.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by in its journal Journal of Theoretical Politics.
Volume (Year): 23 (2011)
Issue (Month): 2 (April)
Contact details of provider:
Other versions of this item:
- Franz Dietrich & Christian List, 2009. "A Model of Non-Informational Preference Change," Levine's Working Paper Archive 814577000000000297, David K. Levine.
- Dietrich Franz & List Christian, 2009. "A Model of Non-Informational Preference Change," Research Memorandum 015, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
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.:
- Armin Falk & Urs Fischbacher, .
"A Theory of Reciprocity,"
IEW - Working Papers
006, Institute for Empirical Research in Economics - University of Zurich.
- 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.
- Sethi, Rajiv & Somanathan, E., 2001.
"Preference Evolution and Reciprocity,"
Journal of Economic Theory,
Elsevier, vol. 97(2), pages 273-297, April.
- Matthew Rabin, 1998.
"Psychology and Economics,"
Journal of Economic Literature,
American Economic Association, vol. 36(1), pages 11-46, March.
- Matthew Rabin., 1997. "Psychology and Economics," Economics Working Papers 97-251, University of California at Berkeley.
- Rabin, Matthew, 1997. "Psychology and Economics," Department of Economics, Working Paper Series qt8jd5z5j2, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Hammond, Peter J, 1976. "Changing Tastes and Coherent Dynamic Choice," Review of Economic Studies, Wiley Blackwell, vol. 43(1), pages 159-73, February.
- Gerard Debreu, 1959. "Topological Methods in Cardinal Utility Theory," Cowles Foundation Discussion Papers 76, Cowles Foundation for Research in Economics, Yale University.
- Dietrich, Franz, 2008.
"Modelling change in individual characteristics: an axiomatic framework,"
045, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- Dietrich, Franz, 2012. "Modelling change in individual characteristics: An axiomatic framework," Games and Economic Behavior, Elsevier, vol. 76(2), pages 471-494.
- Fehr, Ernst & Gachter, Simon, 1998. "Reciprocity and economics: The economic implications of Homo Reciprocans1," European Economic Review, Elsevier, vol. 42(3-5), pages 845-859, May.
- Franz Dietrich & Christian List, 2013.
"Where do preferences come from?,"
International Journal of Game Theory,
Springer, vol. 42(3), pages 613-637, August.
- Dietrich, Franz & List, Christian, 2010. "Where do preferences come from?," MPRA Paper 36115, University Library of Munich, Germany, revised 2011.
- Franz Dietrich & Christian List, 2010. "Where do preferences come from?," Levine's Working Paper Archive 661465000000001137, David K. Levine.
- Dietrich Franz & List Christian, 2011. "Where do preferences come from?," Research Memorandum 005, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (SAGE Publications).
If references are entirely missing, you can add them using this form.