Preferences, goals and implications for paternalism

Petr Krautwurm and Philipp C. Wichardt

Economics and Philosophy, 2026, vol. 42, issue 1, 154-173

Abstract: This paper proposes a conceptual model of decision-making tying specific preferences to broader individual goals. Specifically, we consider terminal goals, representing fundamental objectives, and instrumental goals, serving as complexity-reducing intermediate steps toward achieving terminal goals and determining eventual preferences. Notably, the hierarchical goal structure allows for contextual misalignments between different instrumental goals, which may lead to suboptimal decisions – as evaluated from an outside perspective. Thus, applied to the discussion about nudging and paternalism, the model provides a methodological justification for paternalistic interventions as it is compatible with arguments in favour of interventions aimed to correct such choices.

Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:cup:ecnphi:v:42:y:2026:i:1:p:154-173_8

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