On the causes and consequences of hedonic adaptation

Ricardo Perez-Truglia

Journal of Economic Psychology, 2012, vol. 33, issue 6, 1182-1192

Abstract: We provide a simple evolutionary explanation for the emergence of hedonic adaptation. The model’s key assumption is that, apart from guiding long-term behavior, some sensations fulfill warning and defense roles (e.g., pain). Contrary to the alternative evolutionary explanations for hedonic adaptation (Robson, 2002; Rayo and Becker, 2007), our theory can explain why some sensations are adaptive, while others (with warning/defense roles) are not adaptive at all. Finally, we show that differential adaptation has important welfare and policy implications.

Keywords: Hedonic adaptation; Evolution; Experienced and decision utility (search for similar items in EconPapers)
JEL-codes: B52 D03 I00 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:joepsy:v:33:y:2012:i:6:p:1182-1192

DOI: 10.1016/j.joep.2012.08.004

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