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Information, evolution and utility

Author

Listed:
  • ,

    (University of Wisconsin)

  • , M.

    (Washington University in St. Louis)

Abstract

Human utility embodies a number of seemingly irrational aspects. The leading example in this paper is that utilities often depend on the presence of salient unchosen alternatives. Our focus is to understand why an evolutionary process might optimally lead to such seemingly dysfunctional features in our motivations and to derive implications for the nature of our utility functions.

Suggested Citation

  • , & , M., 2006. "Information, evolution and utility," Theoretical Economics, Econometric Society, vol. 1(1), pages 119-142, March.
    • Handle: RePEc:the:publsh:166
    as

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    File URL: http://econtheory.org/ojs/index.php/te/article/viewFile/20060119/451/15
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    Keywords

    Evolution; information; internal conflict; self control; temptation; time consistency; utility;
    All these keywords.

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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