Perez Truglia, Ricardo Nicolas (2009): On the causes and consequences of Hedonic Adaptation.
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Sensations have both discriminative and affective components. The affective component faces special restrictions when fulfilling warning and defense roles (e.g. pain, fever). As a result, Nature must design self-regulatory utility functions (i.e. hedonic adaptation). Our evolutionary theory gives deeper foundations to the existing models of Robson (2002) and Rayo and Becker (2005). But only our theory can accommodate the wide variation in rates of adaptation across sensations. Indeed, identifying such variation is crucial for the welfare and policy implications. Finally, we provide an application to the psychological defenses, whose predictions are consistent with the region-β paradox (Gilbert et al., 2004).
|Item Type:||MPRA Paper|
|Original Title:||On the causes and consequences of Hedonic Adaptation|
|Keywords:||hedonic adaptation; evolution; expectations; decision utility; experienced utility|
|Subjects:||D - Microeconomics > D0 - General > D03 - Behavioral Microeconomics: Underlying Principles
B - History of Economic Thought, Methodology, and Heterodox Approaches > B5 - Current Heterodox Approaches > B52 - Institutional ; Evolutionary
I - Health, Education, and Welfare > I0 - General > I00 - General
|Depositing User:||Ricardo Perez Truglia|
|Date Deposited:||06. Jun 2010 02:26|
|Last Modified:||12. Feb 2013 17:09|
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On the genesis of Hedonic Adaptation. (deposited 18. Jan 2010 07:54)
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