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    Preferences, choice, goal attainment, satisfaction: That’s life?


    Pecchenino, Rowena A. (2011) Preferences, choice, goal attainment, satisfaction: That’s life? Journal of Socio-Economics, 40 (3). pp. 237-241. ISSN 1053-5357

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    Abstract

    We make choices to achieve an objective. The objective is defined by an individual’s preferences. Subject to constraints, the objective is approached or achieved. Is this a good characterization of life? To answer this question we weaken one of the most basic assumptions of economics: individuals know their prefer- ences. Instead we assume that an individual’s preferences are shaped and reshaped by his environment, experiences, expectations, and by exogenous events. In this model of individual self-discovery, prefer- ences emerge, evolve, and change. These redefinitions change the future course of the individual’s life and reinterpret his past. They characterize a life lived.

    Item Type: Article
    Keywords: Identity; Preferences; Life; choice;
    Academic Unit: Faculty of Social Sciences > Economics, Finance and Accounting
    Item ID: 8506
    Identification Number: https://doi.org/10.1016/j.socec.2011.01.004
    Depositing User: Prof. Rowena Pecchenino
    Date Deposited: 25 Jul 2017 16:13
    Journal or Publication Title: Journal of Socio-Economics
    Publisher: Elsevier
    Refereed: Yes
    URI:

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