We consider the evolution of preferences when trade occurs between two countries. We show that if one country is much … larger than the other, its preferences can eventually take over the preferences of the second country. This result may … agreements. We also show that when the sensitivity of preferences to the relative price is high, the distribution of preferences …

of evolving consumer preferences that is molded in an evolutionary paradigm. The theory allows to better assess how …

Economics ignores the possibility of hedonic adaptation (the idea that people bounce back from utility shocks). This … on to exhibit recovery in mental wellbeing. Adaptation to severe disability, however, is shown to be incomplete. The …

This paper proposes a new way to think about happiness. It distinguishes between stocks and flows. Central to the … adaptation. …

preferences for leisure. Contrary to normal findings, we find that a good that is complementary to leisure need not be discouraged …

of others, the optimal income distribution under utilitarianism is equality of incomes. …

each model. The framework is used to analyze the adaptation vs. mitigation dilemma and provides a simple criterion to … determine whether adaptation activities should be undertaken promptly, delayed to some future date, or avoided altogether. …

Adaptation is omnipresent but people systematically fail to correctly anticipate the degree to which they adapt. This …