IDEAS home Printed from https://ideas.repec.org/a/eee/soceco/v38y2009i1p45-51.html
   My bibliography  Save this article

The economics of possible selves

Author

Listed:
  • Teraji, Shinji

Abstract

This article proposes an economic model of how intentional self-change occurs. People have an array of possible selves. The self-system is multifaceted and dynamic, with different self-representations activated at different times. Comparison between the actual self and the ideal self has important motivational consequences. The response to perceived discrepancy can be shaped toward desired behavioral change. However, self-verification is also an important factor in the individual's motivational system. Self-verification is expected to undermine intentional self-change. Individuals may have an inert area within which they do not attempt self-change. The inert area idea permits both optimal and sub-optimal economic outcomes within the same model.

Suggested Citation

  • Teraji, Shinji, 2009. "The economics of possible selves," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(1), pages 45-51, January.
  • Handle: RePEc:eee:soceco:v:38:y:2009:i:1:p:45-51
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/B6W5H-4TTMNCD-3/2/849aa7839b23cd85e3dd8123217e914d
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Teraji, Shinji, 2007. "Morale and the evolution of norms," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(1), pages 48-57, February.
    2. Loewenstein, George, 1996. "Out of Control: Visceral Influences on Behavior," Organizational Behavior and Human Decision Processes, Elsevier, vol. 65(3), pages 272-292, March.
    3. John B. Davis, 2007. "Akerlof and Kranton on identity in economics: inverting the analysis," Cambridge Journal of Economics, Oxford University Press, vol. 31(3), pages 349-362, May.
    4. Samuel Bowles, 1998. "Endogenous Preferences: The Cultural Consequences of Markets and Other Economic Institutions," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 75-111, March.
    5. George A. Akerlof & Rachel E. Kranton, 2000. "Economics and Identity," The Quarterly Journal of Economics, Oxford University Press, vol. 115(3), pages 715-753.
    6. Moldoveanu, Mihnea & Stevenson, Howard, 2001. "The self as a problem: the intra-personal coordination of conflicting desires," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 30(4), pages 295-330.
    7. Olivier Compte & Andrew Postlewaite, 2004. "Confidence-Enhanced Performance," American Economic Review, American Economic Association, vol. 94(5), pages 1536-1557, December.
    8. Levine, Daniel S., 2006. "Neural modeling of the dual motive theory of economics," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 35(4), pages 613-625, August.
    9. Altman, Morris, 2001. "Culture, human agency, and economic theory: culture as a determinant of material welfare," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 30(5), pages 379-391.
    10. Daniel Kahneman, 2003. "Maps of Bounded Rationality: Psychology for Behavioral Economics," American Economic Review, American Economic Association, vol. 93(5), pages 1449-1475, December.
    11. Lynne, Gary D., 2006. "Toward a dual motive metaeconomic theory," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 35(4), pages 634-651, August.
    12. Bazin, Damien & Ballet, Jerome, 2006. "A basic model for multiple self," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 35(6), pages 1050-1060, December.
    13. Teraji, Shinji, 2008. "Culture, effort variability, and hierarchy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(1), pages 157-166, February.
    14. Lea, Stephen E.G. & Webley, Paul, 2005. "In search of the economic self," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 34(5), pages 585-604, October.
    15. Roland Bénabou & Jean Tirole, 2002. "Self-Confidence and Personal Motivation," The Quarterly Journal of Economics, Oxford University Press, vol. 117(3), pages 871-915.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Teraji, Shinji, 2009. "A model of corporate social performance: Social satisfaction and moral conduct," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(6), pages 926-934, December.
    2. Teraji, Shinji, 2011. "An economic analysis of social exclusion and inequality," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(3), pages 217-223, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:soceco:v:38:y:2009:i:1:p:45-51. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu). General contact details of provider: http://www.elsevier.com/locate/inca/620175 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.