Abstract
An important difficulty in many models of behavioural economics is that preferences are endogenous and unstable. Therefore, preferences may not provide the most desirable yardstick to evaluate social states. The present paper proposes unconditional love as a candidate for such a yardstick. The concept of unconditional love, although lofty, is often hard to apply for practical policy recommendations. We propose an intermediary learning stage, where learning to unconditionally love is desirable, and policies that promote such learning are deemed to be good. We illustrate the use of this principle in models of endogenous altruism.
| Original language | English |
|---|---|
| Pages (from-to) | 226-246 |
| Number of pages | 21 |
| Journal | Japanese Economic Review |
| Volume | 66 |
| Issue number | 2 |
| DOIs | |
| Publication status | Published - 2015 Jun 1 |
Fingerprint
ASJC Scopus subject areas
- Economics and Econometrics
Cite this
Normative Behavioural Economics Based on Unconditional Love and Moral Virtue. / Bhatt, Vipul; Ogaki, Masao; Yaguchi, Yuichi.
In: Japanese Economic Review, Vol. 66, No. 2, 01.06.2015, p. 226-246.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Normative Behavioural Economics Based on Unconditional Love and Moral Virtue
AU - Bhatt, Vipul
AU - Ogaki, Masao
AU - Yaguchi, Yuichi
PY - 2015/6/1
Y1 - 2015/6/1
N2 - An important difficulty in many models of behavioural economics is that preferences are endogenous and unstable. Therefore, preferences may not provide the most desirable yardstick to evaluate social states. The present paper proposes unconditional love as a candidate for such a yardstick. The concept of unconditional love, although lofty, is often hard to apply for practical policy recommendations. We propose an intermediary learning stage, where learning to unconditionally love is desirable, and policies that promote such learning are deemed to be good. We illustrate the use of this principle in models of endogenous altruism.
AB - An important difficulty in many models of behavioural economics is that preferences are endogenous and unstable. Therefore, preferences may not provide the most desirable yardstick to evaluate social states. The present paper proposes unconditional love as a candidate for such a yardstick. The concept of unconditional love, although lofty, is often hard to apply for practical policy recommendations. We propose an intermediary learning stage, where learning to unconditionally love is desirable, and policies that promote such learning are deemed to be good. We illustrate the use of this principle in models of endogenous altruism.
UR - http://www.scopus.com/inward/record.url?scp=84929024444&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84929024444&partnerID=8YFLogxK
U2 - 10.1111/jere.12067
DO - 10.1111/jere.12067
M3 - Article
VL - 66
SP - 226
EP - 246
JO - Japanese Economic Review
JF - Japanese Economic Review
SN - 1352-4739
IS - 2
ER -