Meta-preference, endogenous preference formation and dynamic choice
成果类型：
Article
署名作者：
Hayashi, Takashi
署名单位：
University of Glasgow
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1016/j.jet.2026.106184
发表日期：
2026
关键词：
摘要：
In a dynamic environment, this paper builds a model of layers of meta-preferences which explains endogenous preference formation as a consequence of subjective judgment by the decision maker's current self about welfare of her successor self. The model allows us to describe how much the decision maker is willing to pay for investment in her preference formation. The paper provides a recursive utility representation of the layers of meta-preferences and applies it to the problems of investment in time preference and taste.