Generalised Means of Simple Utility Functions with Risk Aversion
Humans are social creatures that interact in a number of different and at least partially independent social settings, such as work, home, social and political organisations, and church. In each setting one has an identity, or set of identities, which one is called upon to achieve. To obtain and maintain an identity one must dedicate scarce resources. The benefits of expending these resources may be, among other things, income; wealth; success; prestige; power; security; respect; social acceptance; spiritual fulfillment; and salvation. To better understand how the individual makes his resource allocation decisions given the many possible interactions, both positive and negative, across his identities, changes in collective beliefs defining identity, and the substitutability or complementarity of identities, we develop a simple behavioural model of an individual whose personal identity is an amalgam of two identities. We interpret the model in the context of an individual with a secular and a religious identity.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Amartya Sen, 1997.
"Maximization and the Act of Choice,"
Econometric Society, vol. 65(4), pages 745-780, July.
- Amartya Sen, 1996. "Maximization and the Act of Choice," Harvard Institute of Economic Research Working Papers 1766, Harvard - Institute of Economic Research.
- Sen, A., 1996. "Maximisation and the Act of Choice," Papers 270, Banca Italia - Servizio di Studi.
- John B. Davis, 2005.
"Social Identity Strategies in Recent Economics,"
Tinbergen Institute Discussion Papers
05-078/2, Tinbergen Institute.
- Kjell Arne Brekke & Snorre Kverndokk & Karinen Nyborg, 2000.
"An Economic Model of Moral Motivation,"
290, Statistics Norway, Research Department.
- Frank, Robert H, 1985. "The Demand for Unobservable and Other Nonpositional Goods," American Economic Review, American Economic Association, vol. 75(1), pages 101-16, March.
- Karla Hoff & Priyanka Pandey, 2006. "Discrimination, Social Identity, and Durable Inequalities," American Economic Review, American Economic Association, vol. 96(2), pages 206-211, May.
- Clark, Andrew E. & Oswald, Andrew J., 1998. "Comparison-concave utility and following behaviour in social and economic settings," Journal of Public Economics, Elsevier, vol. 70(1), pages 133-155, October.
- George A. Akerlof & Rachel E. Kranton, 2005. "Identity and the Economics of Organizations," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 9-32, Winter.
- Jonathan Gruber, 2005. "Religious Market Structure, Religious Participation, and Outcomes: Is Religion Good for You?," NBER Working Papers 11377, National Bureau of Economic Research, Inc.
- repec:tpr:qjecon:v:115:y:2000:i:3:p:715-753 is not listed on IDEAS
- Ulrich Horst & Alan Kirman & Miriam Teschl, 2006.
"Changing Identity: The Emergence of Social Groups,"
- George Loewenstein, 2000. "Emotions in Economic Theory and Economic Behavior," American Economic Review, American Economic Association, vol. 90(2), pages 426-432, May.
- Alan Kirman & Miriam Teschl, 2006. "Searching for identity in the capability space," Journal of Economic Methodology, Taylor & Francis Journals, vol. 13(3), pages 299-325.
- Sen, Amartya, 1985. "Goals, Commitment, and Identity," Journal of Law, Economics and Organization, Oxford University Press, vol. 1(2), pages 341-55, Fall.
- Schelling, Thomas C, 1985. "Enforcing Rules on Oneself," Journal of Law, Economics and Organization, Oxford University Press, vol. 1(2), pages 357-74, Fall.
- Hollander, Heinz, 1990. "A Social Exchange Approach to Voluntary Cooperation," American Economic Review, American Economic Association, vol. 80(5), pages 1157-67, December.
- Gruber Jonathan H, 2005. "Religious Market Structure, Religious Participation, and Outcomes: Is Religion Good for You?," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 5(1), pages 1-32, September.
When requesting a correction, please mention this item's handle: RePEc:eso:journl:v:39:y:2008:i:1:p:39-54. 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: (Frank Walsh)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 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.