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Towards an alternative paradigm of consumer behavior

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  • Viviana Di Giovinazzo

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Abstract

This paper explores Scitovsky’s contribution to behavioral economics and examines in particular the changes his theory based on the findings of human brain psychophysiologists has brought to choice theory. The evidence here gathered points out how Scitovsky was making his suggestions for an alternative to the rationalist-based theory of choice model as far back in the early 1970s. The same evidence singles out Scitovsky as one of the most influential forerunners of a successful program of psychologically-based economic research which has only recently been acknowledged as a promising field for further investigation.

Suggested Citation

  • Viviana Di Giovinazzo, 2010. "Towards an alternative paradigm of consumer behavior," Working Papers 179, University of Milano-Bicocca, Department of Economics, revised Mar 2010.
  • Handle: RePEc:mib:wpaper:179
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    File URL: http://dems.unimib.it/repec/pdf/mibwpaper179.pdf
    File Function: First version, 2010
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    References listed on IDEAS

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    1. Alois Stutzer & Armando N. Meier, 2016. "Limited Self‐control, Obesity, and the Loss of Happiness," Health Economics, John Wiley & Sons, Ltd., vol. 25(11), pages 1409-1424, November.
    2. Daniel Kahneman & Robert Sugden, 2005. "Experienced Utility as a Standard of Policy Evaluation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 32(1), pages 161-181, September.
    3. Viviana Di Giovinazzo, 2008. "From Individual Wellbeing to Economic Welfare. The Scitovsky Contribution to the Explanation of a Joyless Economy," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00650853, HAL.
    4. Luigino Bruni & Robert Sugden, 2007. "The road not taken: how psychology was removed from economics, and how it might be brought back," Economic Journal, Royal Economic Society, vol. 117(516), pages 146-173, January.
    5. Bruni, Luigino & Stanca, Luca, 2008. "Watching alone: Relational goods, television and happiness," Journal of Economic Behavior & Organization, Elsevier, vol. 65(3-4), pages 506-528, March.
    6. Scitovsky, Tibor, 1981. "The Desire for Excitement in Modern Society," Kyklos, Wiley Blackwell, vol. 34(1), pages 3-13.
    7. Di Giovinazzo, Viviana, 2008. "From Individual Wellbeing to Economic Welfare. The Scitovsky Contribution to the Explanation of a Joyless Economy," European Journal of Economic and Social Systems, Lavoisier, vol. 21(1), pages 57-81.
    8. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    9. Daniel Kahneman & Richard H. Thaler, 2006. "Anomalies: Utility Maximization and Experienced Utility," Journal of Economic Perspectives, American Economic Association, vol. 20(1), pages 221-234, Winter.
    10. Stigler, George J & Becker, Gary S, 1977. "De Gustibus Non Est Disputandum," American Economic Review, American Economic Association, vol. 67(2), pages 76-90, March.
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    Cited by:

    1. Romaniuc, Rustam, 2017. "Intrinsic motivation in economics: A history," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 67(C), pages 56-64.

    More about this item

    Keywords

    Scitovsky; behavioral economics; arousal; comfort; pleasure; satisfaction; rational-choice theory;

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory

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