Economic Influences on Moral Values
AbstractThis paper extends standard consumer theory to account for endogenous moral motivation. Building on cognitive dissonance theory, I show how moral values are affected by changes in prices and income. The key insight is that changes in prices and income that lead to higher consumption of an immoral good also affect the moral values held by the consumer so that the good is considered less immoral. A preliminary empirical analysis based on the World Values Survey is consistent with the model's predictions with respect to income.
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Bibliographic InfoPaper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 635.
Length: 27 pages
Date of creation: 21 Sep 2006
Date of revision: 17 Oct 2007
Publication status: Published in The B.E. Journal of Economic Analysis & Policy (Advances), 2009.
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More information through EDIRC
Consumer theory; moral values; endogenous preferences; cognitive dissonance; self-serving bias;
Other versions of this item:
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
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