Random “Decision and Experienced Utility”, Adaptive “Consumer Memory and Choice”: The Impact of Mind Fluctuations and Cognitive Biases on Consumption and Classification
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Daniel Kahneman & Peter P. Wakker & Rakesh Sarin, 1997. "Back to Bentham? Explorations of Experienced Utility," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 375-406.
- van de Stadt, Huib & Kapteyn, Arie & van de Geer, Sara, 1985.
"The Relativity of Utility: Evidence from Panel Data,"
The Review of Economics and Statistics, MIT Press, vol. 67(2), pages 179-187, May.
- van de Stadt, H. & Kapteyn, A.J. & van de Geer, S., 1983. "The relativity of utility : Evidence from panel data," Other publications TiSEM f8308b3a-9c49-4ba2-8ce3-7, Tilburg University, School of Economics and Management.
- Hans Brems, 1948. "The Interdependence of Quality Variations, Selling Effort and Price," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 62(3), pages 418-440.
- Akay, Alpaslan & Bargain, Olivier B. & Jara, H. Xavier, 2017.
"Back to Bentham, Should We? Large-Scale Comparison of Experienced versus Decision Utility,"
GLO Discussion Paper Series
52, Global Labor Organization (GLO).
- Akay, Alpaslan & Bargain, Olivier B. & Jara, Xavier, 2017. "Back to Bentham, Should We? Large-Scale Comparison of Experienced versus Decision Utility," IZA Discussion Papers 10907, Institute of Labor Economics (IZA).
- Leonardo Nicolao & Julie R. Irwin & Joseph K. Goodman, 2009. "Happiness for Sale: Do Experiential Purchases Make Consumers Happier than Material Purchases?," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 36(2), pages 188-198.
- Sohn, Yong Seok & Ko, Man Ting, 2021. "The impact of planned vs. unplanned purchases on subsequent purchase decision making in sequential buying situations," Journal of Retailing and Consumer Services, Elsevier, vol. 59(C).
- Rong Hai & Dirk Krueger & Andrew Postlewaite, 2020.
"On the welfare cost of consumption fluctuations in the presence of memorable goods,"
Quantitative Economics, Econometric Society, vol. 11(4), pages 1177-1214, November.
- Rong Hai & Dirk Krueger & Andrew Postlewaite, 2013. "On the Welfare Cost of Consumption Fluctuations in the Presence of Memorable Goods," NBER Working Papers 19386, National Bureau of Economic Research, Inc.
- Postlewaite, Andrew & Krueger, Dirk & Hai, Rong, 2013. "On the Welfare Cost of Consumption Fluctuations in the Presence of Memorable Goods," CEPR Discussion Papers 9623, C.E.P.R. Discussion Papers.
- Rong Hai & Dirk Krueger & Andrew Postlewaite, 2014. "On the Welfare Cost of Consumption Fluctuations in the Presence of Memorable Goods," PIER Working Paper Archive 20-025, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 26 Jun 2020.
- Hai, Rong & Krueger, Dirk & Postlewaite, Andrew, 2013. "On the welfare cost of consumption fluctuations in the presence of memorable goods," CFS Working Paper Series 2013/24, Center for Financial Studies (CFS).
- Rong Hai & Dirk Krueger & Andrew Postlewaite, 2013. "On the Welfare Cost of Consumption Fluctuationsin the Presence of Memorable Goods," PIER Working Paper Archive 13-046, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- Chen, Ching-Fu & Chen, Fu-Shian, 2010. "Experience quality, perceived value, satisfaction and behavioral intentions for heritage tourists," Tourism Management, Elsevier, vol. 31(1), pages 29-35.
- Daniel Kahneman & Richard H. Thaler, 2006. "Anomalies: Utility Maximization and Experienced Utility," Journal of Economic Perspectives, American Economic Association, vol. 20(1), pages 221-234, Winter.
- Jeffrey C. Fuhrer, 2000. "Habit Formation in Consumption and Its Implications for Monetary-Policy Models," American Economic Review, American Economic Association, vol. 90(3), pages 367-390, June.
- Selin Atalay & Margaret G. Meloy, 2011. "Retail therapy: A strategic effort to improve mood," Post-Print hal-00596836, HAL.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Hajdu, Tamás & Hajdu, Gábor, 2011. "A hasznosság és a relatív jövedelem kapcsolatának vizsgálata magyar adatok segítségével [Examining the relation of utility and relative income using Hungarian data]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 56-73.
- Caporale, Guglielmo Maria & Georgellis, Yannis & Tsitsianis, Nicholas & Yin, Ya Ping, 2009.
"Income and happiness across Europe: Do reference values matter?,"
Journal of Economic Psychology, Elsevier, vol. 30(1), pages 42-51, February.
- Guglielmo Maria Caporale & Yannis Georgellis & Nicholas Tsitsianis & Ya Ping Yin, 2007. "Income and Happiness across Europe: Do Reference Values Matter?," CESifo Working Paper Series 2146, CESifo.
- Stutzer, Alois, 2004.
"The role of income aspirations in individual happiness,"
Journal of Economic Behavior & Organization, Elsevier, vol. 54(1), pages 89-109, May.
- Alois Stutzer, "undated". "The Role of Income Aspirations in Individual Happiness," IEW - Working Papers 124, Institute for Empirical Research in Economics - University of Zurich.
- Koen Decancq & Marc Fleurbaey & Erik Schokkaert, 2015.
"Happiness, Equivalent Incomes and Respect for Individual Preferences,"
Economica, London School of Economics and Political Science, vol. 82, pages 1082-1106, December.
- Koen DE CANCQ & Marc FLEURBAEY & Erik SCHOKKAERT, 2015. "Happiness, equivalent incomes and respect for individual preferences," LIDAM Reprints CORE 2796, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Alpaslan Akay & Olivier B. Bargain & H. Xavier Jara, 2023.
"Experienced versus decision utility: large‐scale comparison for income–leisure preferences,"
Scandinavian Journal of Economics, Wiley Blackwell, vol. 125(4), pages 823-859, October.
- Alpaslan AKAY & Olivier BARGAIN & H. Xavier JARA, 2022. "Experienced versus Decision Utility: Large-Scale Comparison for Income-Leisure Preferences," Bordeaux Economics Working Papers 2022-23, Bordeaux School of Economics (BSE).
- Francesco Ferrante, 2009.
"Education, Aspirations and Life Satisfaction,"
Kyklos, Wiley Blackwell, vol. 62(4), pages 542-562, November.
- Francesco Ferrante, 2009. "Education, Aspirations and Life Satisfaction," Working Papers 2009-03, Universita' di Cassino, Dipartimento di Economia e Giurisprudenza.
- van Hoorn, Andre, 2016.
"Reliability and Validity of the Happiness Approach to Measuring Preferences,"
MPRA Paper
79977, University Library of Munich, Germany.
- van Hoorn, Andr, 2016. "Reliability and validity of the happiness approach to measuring preferences," Research Report 16008-GEM, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
- Claudia Senik, 2006.
"Ambition et jalousie. La perception du revenu d'autrui dans la « vieille Europe », la « nouvelle Europe » et les États-Unis,"
Revue économique, Presses de Sciences-Po, vol. 57(3), pages 645-653.
- Claudia Senik, 2006. "Ambition et jalousie. la perception du revenu d'autrui dans la vieille Europe, la nouvelle Europe et les Etats-Unis," Post-Print halshs-00754155, HAL.
- Ruut Veenhoven & Felicia Chiperi & Xin Kang & Martijn Burger, 2021. "Happiness and Consumption: A Research Synthesis Using an Online Finding Archive* â€," SAGE Open, , vol. 11(1), pages 21582440209, March.
- Jacobs Martin, 2016. "Accounting for Changing Tastes: Approaches to Explaining Unstable Individual Preferences," Review of Economics, De Gruyter, vol. 67(2), pages 121-183, August.
- Johannes Müller-Trede & Shoham Choshen-Hillel & Meir Barneron & Ilan Yaniv, 2018. "The Wisdom of Crowds in Matters of Taste," Management Science, INFORMS, vol. 64(4), pages 1779-1803, April.
- Emmerling, Johannes & Qari, Salmai, 2017. "Car ownership and hedonic adaptation," Journal of Economic Psychology, Elsevier, vol. 61(C), pages 29-38.
- repec:hum:wpaper:sfb649dp2013-035 is not listed on IDEAS
- Haijiao Cui & Bin Cao & Aimei Li & Zhaohui Li, 2023. "A General Model of Subjective Value and Stimulus-Intensity-Sensitive Hedonic Editing Strategy," Journal of Happiness Studies, Springer, vol. 24(3), pages 1191-1217, March.
- Andreas Knabe & Steffen Rätzel & Ronnie Schöb & Joachim Weimann, 2010.
"Dissatisfied with Life but Having a Good Day: Time-use and Well-being of the Unemployed,"
Economic Journal, Royal Economic Society, vol. 120(547), pages 867-889, September.
- Andreas Knabe & Steffen Rätzel & Ronnie Schöb & Steffen Rätzel & Joachim Weimann, 2009. "Dissatisfied with life, but having a good day- time-use and well-being of the unemployed," FEMM Working Papers 09011, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management.
- Andreas Knabe & Steffen Rätzel & Ronnie Schöb & Joachim Weimann, 2009. "Dissatisfied with Life, but Having a Good Day: Time-Use and Well-Being of the Unemployed," CESifo Working Paper Series 2604, CESifo.
- Knabe, Andreas & Rätzel, Steffen & Schöb, Ronnie & Weimann, Joachim, 2009. "Dissatisfied with life, but having a good day: time-use and well-being of the unemployed," Discussion Papers 2009/13, Free University Berlin, School of Business & Economics.
- Moschion, Julie & Powdthavee, Nattavudh, 2018.
"The welfare implications of addictive substances: A longitudinal study of life satisfaction of drug users,"
Journal of Economic Behavior & Organization, Elsevier, vol. 146(C), pages 206-221.
- Julie Moschion & Nattavudh Powdthavee, 2017. "The Welfare Implications of Addictive Substances: A Longitudinal Study of Life Satisfaction of Drug Users," Melbourne Institute Working Paper Series wp2017n32, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
- Moschion, Julie & Powdthavee, Nattavudh, 2018. "The welfare implications of addictive substances: a longitudinal study of life satisfaction of drug users," LSE Research Online Documents on Economics 86479, London School of Economics and Political Science, LSE Library.
- Moschion, Julie & Powdthavee, Nattavudh, 2017. "The Welfare Implications of Addictive Substances: A Longitudinal Study of Life Satisfaction of Drug Users," IZA Discussion Papers 11181, Institute of Labor Economics (IZA).
- Bruno S. Frey & Alois Stutzer, 2002.
"What Can Economists Learn from Happiness Research?,"
Journal of Economic Literature, American Economic Association, vol. 40(2), pages 402-435, June.
- Bruno S. Frey & Alois Stutzer, "undated". "What can Economists Learn from Happiness Research?," IEW - Working Papers 080, Institute for Empirical Research in Economics - University of Zurich.
- Bruno S. Frey & Alois Stutzer, 2001. "What Can Economists Learn from Happiness Research?," CESifo Working Paper Series 503, CESifo.
- Johansson-Stenman, Olof & Svedsäter, Henrik, 2011. "Self-Image and Valuation of Moral Goods: Stated versus Real Willingness to Pay," Working Papers in Economics 484, University of Gothenburg, Department of Economics.
- Bruno Frey & Alois Stutzer, 2014.
"Economic Consequences of Mispredicting Utility,"
Journal of Happiness Studies, Springer, vol. 15(4), pages 937-956, August.
- Bruno S. Frey & Alois Stutzer, "undated". "Economic Consequences of Mispredicting Utility," IEW - Working Papers 218, Institute for Empirical Research in Economics - University of Zurich.
- Bruno S. Frey & Alois Stutzer, 2013. "Economic Consequences of Mispredicting Utility," SOEPpapers on Multidisciplinary Panel Data Research 564, DIW Berlin, The German Socio-Economic Panel (SOEP).
- Bruno S. Frey & Alois Stutzer, 2004. "Economic Consequences of Mispredicting Utility," CREMA Working Paper Series 2005-04, Center for Research in Economics, Management and the Arts (CREMA).
- Frey, Bruno S. & Stutzer, Alois, 2013. "Economic Consequences of Mispredicting Utility," IZA Discussion Papers 7430, Institute of Labor Economics (IZA).
- Frey, Bruno S. & Stutzer, Alois, 2008. "Economic consequences of mispredicting utility," Working papers 2008/01, Faculty of Business and Economics - University of Basel.
- Andrew E. Clark & Paul Frijters & Michael A. Shields, 2006.
"Income and happiness: Evidence, explanations and economic implications,"
PSE Working Papers
halshs-00590436, HAL.
- Andrew E. Clark & Paul Frijters & Michael A. Shields, 2006. "Income and happiness: Evidence, explanations and economic implications," Working Papers halshs-00590436, HAL.
- Aronsson, Thomas & Johansson-Stenman, Olof, 2011. "Animal Welfare and Social Decisions," Working Papers in Economics 485, University of Gothenburg, Department of Economics.
More about this item
Keywords
decision utility; experiential utility; relative consumption; blind consumption; adaptive expectations;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jmathe:v:11:y:2023:i:6:p:1470-:d:1100286. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.