The uncertain moral context of price changes

Luiz Freitas and Jeffrey Wagner

Ecological Economics, 2009, vol. 68, issue 4, 1100-1105

Abstract: The purpose of this paper is to motivate a microeconomic model of consumption in which there is uncertainty that is not resolved ex post regarding the moral context of price changes. We show that neoclassical microeconomic theory can yield a result in which expected utility falls when a consumer who is sufficiently concerned for the uncertain moral context of production is faced with a falling price.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolec:v:68:y:2009:i:4:p:1100-1105

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