Procedural Rationality and Happiness
AbstractThe Economics of Happiness already recognizes how procedures affect the evaluation of outcomes, although this has only been looked at within the standard framework of substantial rationality. This paper aims to go beyond that kind of approach by linking happiness and procedural rationality, focusing on ‘happiness for choice’ (the individual’s perceived satisfaction after the decision making process). Simon’s model shows the need for defining aspirations whose values are adapted to the past experience in a given environment. Some remarks proposed by Scitovsky’s allow to extend this idea considering the role of creative representation of the world as a way for trying to go beyond the past. These ideas are tested using data on aspirations and satisfaction expressed by students attending an economic course.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 18290.
Date of creation: 31 Oct 2009
Date of revision:
Procedural rationality; satisfaction; students; happiness; aspirations;
Other versions of this item:
- Castellani, Marco & Di Giovinazzo, Viviana & Novarese, Marco, 2010. "Procedural rationality and happiness," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 39(3), pages 376-383, June.
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-11-07 (All new papers)
- NEP-CBE-2009-11-07 (Cognitive & Behavioural Economics)
- NEP-EVO-2009-11-07 (Evolutionary Economics)
- NEP-HAP-2009-11-07 (Economics of Happiness)
- NEP-HPE-2009-11-07 (History & Philosophy of Economics)
- NEP-LTV-2009-11-07 (Unemployment, Inequality & Poverty)
- NEP-NEU-2009-11-07 (Neuroeconomics)
- NEP-SOC-2009-11-07 (Social Norms & Social Capital)
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