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The Possible Use of Akerlof and Kranton’s Utility Model in Higher Education

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  • Mihaly Nikolett

    (Faculty of Economics and Business, Szent István University of Gödöllő, Gödöllő, Hungary)

Abstract

Background: The identity and utility research carries significant role in the modern economics. There are financial outputs, if we can moderate appropriate the student’s and worker’s identities.Objectives: The paper examines the possible use of the utility model and theoretical principles of Akerlof and Kranton (2000, 2002) in higher education. The examined aspects are utility, identity and role.Methods/Approach: The paper aims at employing the model of Akerlof in higher education and how the terms identity and utility can be interpreted in this environment.Results: To sum up, we can say that while case studies and certain experiments seem to justify the model of Akerlof and Kranton, there are few scientific results in higher education to rely on that prove the relationship between identity and utility.Conclusions: It can be deduced that the identity of students has some economic impacts. Institutional policy can increase not only the success of its students but also their income through identity changes.

Suggested Citation

  • Mihaly Nikolett, 2018. "The Possible Use of Akerlof and Kranton’s Utility Model in Higher Education," Business Systems Research, Sciendo, vol. 9(1), pages 138-150, March.
    • Handle: RePEc:bit:bsrysr:v:9:y:2018:i:1:p:138-150:n:11
    DOI: 10.2478/bsrj-2018-0011
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    References listed on IDEAS

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    1. George A. Akerlof & Rachel E. Kranton, 2005. "Identity and the Economics of Organizations," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 9-32, Winter.
    2. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    3. Aaker, Jennifer L. & Akutsu, Satoshi, 2009. "Why Do People Give? The Role of Identity in Giving," Research Papers 2027, Stanford University, Graduate School of Business.
    4. Adler, Matthew D., 2014. "Extended Preferences And Interpersonal Comparisons: A New Account," Economics and Philosophy, Cambridge University Press, vol. 30(2), pages 123-162, July.
    5. Franco Modigliani, 1988. "The Monetarist Controversy Revisited," Contemporary Economic Policy, Western Economic Association International, vol. 6(4), pages 3-18, October.
    6. George A. Akerlof & Rachel E. Kranton, 2000. "Economics and Identity," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(3), pages 715-753.
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    More about this item

    Keywords

    Education; Well-Being; Innovation;
    All these keywords.

    JEL classification:

    • I2 - Health, Education, and Welfare - - Education
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • O35 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Social Innovation

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