An Essay on the Competitive Formation of Preferences
AbstractThe 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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Bibliographic InfoPaper provided by Hoover Institution, Stanford University in its series Working Papers with number e-98-3.
Length: 43 pages
Date of creation: 1998
Date of revision:
RISK ; COMPETITION ; MARKET STRUCTURE;
Find related papers by JEL classification:
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
- D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D19 - Microeconomics - - Household Behavior - - - Other
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