An Essay on the Competitive Formation of Preferences.

The endogeneity of preferences implies that not only individual preferences -along with technologies, government policies, and the organization of society and markets- determine economic outcomes, but also that the economic, social, legal, and cultural structure of society affects preferences. This paper develops a rational choice general equilibrium model of incomplete markets in which preferences are endogenously determined.

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Year of publication:	1998
Authors:	Palacios-Huerta, I. ; Santos, J.J.
Institutions:	Hoover Institution on War Revolution & Peace, Stanford University
Subject:	RISK \| COMPETITION \| MARKET STRUCTURE

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Series:	Stanford - Hoover Institution.
Type of publication:	Book / Working Paper
Notes:	43 pages
Classification:	D50 - General Equilibrium and Disequilibrium. General ; D52 - Incomplete Markets ; D81 - Criteria for Decision-Making under Risk and Uncertainty ; D19 - Household Behavior and Family Economics. Other
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005475091