The endogeneity of preferences implies that not only individual preferences -along with technologies, government policies, and the organization of society and markets- determine economic outcomes, but also that the economic, social, legal, and cultural structure of society affects preferences. This paper develops a rational choice general equilibrium model of incomplete markets in which preferences are endogenously determined.
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Paper provided by Stanford - Hoover Institution in its series Papers with number
e-98-3.
Length: 43 pages Date of creation: 1998 Date of revision: Handle: RePEc:fth:stanho:e-98-3
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