IDEAS home Printed from https://ideas.repec.org/p/may/mayecw/n217-11.pdf.html
   My bibliography  Save this paper

Abandon Hope All Ye Who Enter Here?

Author

Listed:
  • Rowena Pecchenino

    () (Department of Economics Finance and Accounting, National University of Ireland, Maynooth)

Abstract

Hope plays an important role in all individuals’ lives both today and in the future. While hope and hopelessness are important concepts and the subjects of much theorizing in psychology, theology, philosophy, political science, nursing, as well as in literature and the arts, it is absent from economics. This silence on hope is notable since hope is fundamentally at the centre of choice, especially intertemporal choice, which is at the centre of economic analysis. To place hope at the centre of intertemporal choice, it is important to clearly define what hope is and what it is not. What hope is not is constant. Hope is not optimism; hope is not unfounded dreams divorced from reality; hope is not irrational. I distil what hope is from its characterization in a number of different disciplines. A comparison of characterizations identifies a number of commonalities and common definitions. Using the derived set of definitions, I incorporate hope into economic analysis, consider what implications hope has for the modelling of choice and for economic behaviour, and discuss whether hope is implicitly imbedded in or has been abandoned, to our eternal cost, by economics.

Suggested Citation

  • Rowena Pecchenino, 2011. "Abandon Hope All Ye Who Enter Here?," Economics, Finance and Accounting Department Working Paper Series n217-11.pdf, Department of Economics, Finance and Accounting, National University of Ireland - Maynooth.
  • Handle: RePEc:may:mayecw:n217-11.pdf
    as

    Download full text from publisher

    File URL: http://repec.maynoothuniversity.ie/mayecw-files/N217-11.pdf
    Download Restriction: no

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. The economics of hope
      by Kevin Denny in Geary Behaviour Centre on 2011-03-20 16:03:00

    Citations

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


    Cited by:

    1. Rowena Pecchenino, 2014. "The Economic Consequences of Despair," Economics, Finance and Accounting Department Working Paper Series n254-14.pdf, Department of Economics, Finance and Accounting, National University of Ireland - Maynooth.
    2. Pecchenino, Rowena A., 2015. "Have we cause for despair?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 58(C), pages 56-62.

    More about this item

    Keywords

    Hope; rational choice; goal orientation; expectations; faith;

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    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:may:mayecw:n217-11.pdf. 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: () or (Candi Patterson) or (Katrina Wingle). General contact details of provider: http://edirc.repec.org/data/demayie.html .

    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.

    We have no references for this item. You can help adding them by using 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.