Preference, Value, Choice, and Welfare

by Daniel M. Hausman

Subject categories
ISBNs
  • 9781107015432
  • 9781139211710
  • 9781139210065
This book is about preferences, principally as they figure in economics. It also explores their uses in everyday language and action, how they are understood in psychology and how they figure in philosophical reflection on action and morality. The book clarifies and for the most part defends the way in which economists invoke preferences to explain, predict and assess behavior and outcomes. Hausman argues, however, that the predictions and explanations economists offer rely on theories of preference formation that are in need of further development, and he criticizes attempts to define welfare in terms of preferences and to define preferences in terms of choices or self-interest. The analysis clarifies the relations between rational choice theory and philosophical accounts of human action. The book also assembles the materials out of which models of preference formation and modification can be constructed, and it comments on how reason and emotion shape preferences.

  • Cambridge University Press; December 2011
  • ISBN: 9781139211710
  • Read online, or download in secure PDF or secure ePub format
  • Title: Preference, Value, Choice, and Welfare
  • Author: Daniel M. Hausman
  • Imprint: Cambridge University Press
Subject categories
ISBNs
  • 9781107015432
  • 9781139211710
  • 9781139210065

In The Press

'Daniel Hausman has given us a careful, thoughtful disposition on the nature of preferences, which lie at the heart of economics. We thereby learn the basis for what economists are practising when they are preaching.' George Akerlof, Nobel Laureate in Economics, 2001

Subject categories
ISBNs
  • 9781107015432
  • 9781139211710
  • 9781139210065