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Information, evolution and utility

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  • Larry Samuelson
  • Jeroen Swinkels

Abstract

Human utility embodies a number of seemingly irrational aspects. The leading example in this paper is that utilities often depend on the presence of salient unchosen alternatives. Our focus is to understand why an evolutionary process might optimally lead to such seemingly dysfunctional features in our motivations and to derive implications for the nature of our utility functions.

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Bibliographic Info

Paper provided by David K. Levine in its series Levine's Working Paper Archive with number 506439000000000472.

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Date of creation: 17 Dec 2010
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Handle: RePEc:cla:levarc:506439000000000472

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Cited by:
  1. Bilancini, Ennio & Boncinelli, Leonardo, 2014. "Instrumental cardinal concerns for social status in two-sided matching with non-transferable utility," European Economic Review, Elsevier, vol. 67(C), pages 174-189.
  2. Adriani, Fabrizio & Sonderegger, Silvia, 2009. "Trust, Introspection, and Market Participation: an Evolutionary Approach," MPRA Paper 16110, University Library of Munich, Germany.
  3. Berg, Nathan & Biele, Guido & Gigerenzer, Gerd, 2010. "Does Consistency Predict Accuracy of Beliefs?: Economists Surveyed About PSA," MPRA Paper 24976, University Library of Munich, Germany.
  4. Christoph March, 2011. "Adaptive social learning," PSE Working Papers halshs-00572528, HAL.
  5. Partha Dasgupta & Eric Maskin, 2004. "Uncertainty and Hyperbolic Discounting," Economics Working Papers 0023, Institute for Advanced Study, School of Social Science.
  6. Toru Suzuki, 2012. "Complementarity of behavioral biases," Theory and Decision, Springer, vol. 72(3), pages 413-430, March.
  7. Jeffrey C. Ely, 2011. "Kludged," American Economic Journal: Microeconomics, American Economic Association, vol. 3(3), pages 210-31, August.
  8. Marco Gui & Luca Stanca, 2009. "Television Viewing, Satisfaction and Happiness: Facts and Fiction," Working Papers 167, University of Milano-Bicocca, Department of Economics, revised Jul 2009.
  9. Kalyan Chatterjee & R. Vijay Krishna, 2005. "Menu Choice, Environmental Cues and Temptation: A “Dual Self” Approach to Self-control," Levine's Working Paper Archive 784828000000000576, David K. Levine.
  10. Fabrizio Adriani & Silvia Sonderegger, . "Evolution of similarity judgements in intertemporal choice," Discussion Papers 2014-06, The Centre for Decision Research and Experimental Economics, School of Economics, University of Nottingham.
  11. De Fraja, Gianni, 2009. "The origin of utility: Sexual selection and conspicuous consumption," Journal of Economic Behavior & Organization, Elsevier, vol. 72(1), pages 51-69, October.
  12. Nick Vikander, 2011. "Targeted Advertising and Social Status," Tinbergen Institute Discussion Papers 11-016/1, Tinbergen Institute.
  13. Anton Suvorov & Jeroen van de Ven, 2008. "Goal Setting as a Self-Regulation Mechanism," Working Papers w0122, Center for Economic and Financial Research (CEFIR).

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