Our analysis is about the role of emotions and moral values in economical analysis. We use the theory of emotions of Livet (2002) in order to understand the behaviour of individuals alternatively in the Akerlof (1991)’s model of undue obedience and in a public good experiment. We argue that the emotional process permits us to reveal to ourselves our true preferences or values. We thus claim that recent economic analysis should take into account the role of emotion not only as a psychic cost or even a rational tool but also as a useful warning process.
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Paper provided by Groupe de Recherche en Economie Théorique et Appliquée in its series Cahiers du GREThA with number
2008-11.
Find related papers by JEL classification: B49 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Other A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
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