The renaissance of belief-based utility in economics

George Loewenstein and Andras Molnar

Nature Human Behaviour, 2018, vol. 2, issue 3, 166-167

Abstract: Why isn’t there a strong relation between income and happiness? Why do people avoid or seek self-confirmatory or even false information? Why do they play the lottery and buy insurance? Taking account of belief-based utility can enable economics to make sense of these and a multitude of other puzzling phenomena.

Date: 2018
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DOI: 10.1038/s41562-018-0301-z

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