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Non-monotonic Preferences, Market Structure, and Happiness

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  • Gerasimos T. Soldatos

    (American University of Athens)

Abstract

Non-monotonic preferences reflect self-sufficiency seeking motivated inter alia by non-materialist concerns as part of the overall, materialist and non-materialist happiness, characterizing individuals. This article examines theoretically the consequences of these preferences for market structure and competition policy through a comparison with monotonic preferences, ceteris paribus. The overall conclusion is that market structure does respond to happiness seeking, making it “easier”, but industry becomes more concentrated and less sensitive to change. Moreover, prices are found to be lower under non-monotonic preferences.

Suggested Citation

  • Gerasimos T. Soldatos, 2020. "Non-monotonic Preferences, Market Structure, and Happiness," Journal of Happiness Studies, Springer, vol. 21(6), pages 2213-2227, August.
    • Handle: RePEc:spr:jhappi:v:21:y:2020:i:6:d:10.1007_s10902-019-00180-0
    DOI: 10.1007/s10902-019-00180-0
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    References listed on IDEAS

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    More about this item

    Keywords

    Non-monotonic preferences; Market structure; Materialist-cum-non-materialist happiness;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being

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