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Journal of the History of Economic Thought preprints - Harry Helson’s Adaptation-Level Theory, Happiness Treadmills, and Behavioral Economics

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  • Edwards, José

Abstract

Psychologist Harry Helson [1898-1977] developed Adaptation-Level (AL) theory during the 1930s-70s, while economics was being refined through ordinalism and expected utility theory. This essay accounts for the process of transmission of AL theory from psychophysics, to behavioral psychology and eventually economics. It explains how the concept of adaptation reflectance, originally intended to explain color vision, developed into an experimental approach that caught the attention of both psychologists and economists working on welfare analysis and behavioral research. It also argues that the history of AL theory – so far absent from narratives about economics and psychology – is worth exploring in order to gain a better understanding of the relationship between the two disciplines.

Suggested Citation

  • Edwards, José, 2017. "Journal of the History of Economic Thought preprints - Harry Helson’s Adaptation-Level Theory, Happiness Treadmills, and Behavioral Economics," SocArXiv 6cvbh, Center for Open Science.
    • Handle: RePEc:osf:socarx:6cvbh
    DOI: 10.31219/osf.io/6cvbh
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