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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: | 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 |
| Related URLs: | |
| URI: | https://mural.maynoothuniversity.ie/id/eprint/8506 |
| Use Licence: | This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available here |
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