People not only care about outcomes; they also value the procedures that lead to the outcomes. Procedural utility is an important source of human well-being. This paper aims at introducing the concept of procedural utility into economics, and argues that it should be incorporated more widely into economic theory and empirical research. Three building blocks of a concept of procedural utility are outlined, and it...

 Psychological aspects of money—attitudes, material values, and spending—are brought together in an integrated model of consumption patterns. Tightness with money combined with high materialism predicts value-seeking bargain hunting; looseness with money combined with high materialism predicts price-seeking conspicuous spending; tightness with money combined with low materialism predicts price aversion and reluctance to spend; and looseness with money combined with low materialism predicts spending on experiences...

 The paper summarizes evidence with respect to the individual welfare function of income. Moreover a number of new empirical results is presented. Data are used from six surveys in Belgium and The Netherlands. The relationships considered appear to be stable across the different samples. The implications of the results for social policy are briefly discussed.  Van Herwaarden, F., Kapteyn, A., &Van Praag, B. (1977). Twelve thousand...

초록 없음  Lancaster, K. J. (1966). A new approach to consumer theory. Journal of political economy, 74(2), 132-157.https://doi.org/10.1086/259131 

 The authors suggest that procedural and distributive factors interactively combine to influence individuals' reactions to their encounters with other people, groups, and organizations. Results from 45 independent samples (reviewed herein) show that (1) level of procedural justice is more positively related to individuals' reactions when outcome fairness or valence is relatively low and (2) level of outcome fairness or valence is more positively related to...

  Preferences for redistribution may be influenced by values and beliefs about distributive justice as well as by self-interest. People may prefer more redistribution to the poor if they believe that poverty is caused by circumstances beyond individual control. Therefore, beliefs about the causes of income may affect demand for redistribution. Alternatively, the effect of these beliefs on redistributive preferences may be spurious if they are...

 Employee theft rates were measured in manufacturing plants during a period in which pay was temporarily reduced by 15%. Compared with pre- or postreduction pay period (or with control groups whose pay was unchanged), groups whose pay was reduced had significantly higher theft rates. When the basis for the pay cuts was thoroughly and sensitively explained to employees, feelings of inequity were lessened, and the...

 Community standards of fairness for the setting of prices and wages were elicited by telephone surveys. In customer or labor markets, it is acceptable for a firm to raise prices (or cut wages) when profits are threatened and to maintain prices when costs diminish. It is unfair to exploit shifts in demand by raising prices or cutting wages. Several market anomalies are explained by assuming...

Non‐profit firms are often seen as workplaces where people not only work for money, but also find substantial satisfaction in the kind of work they do. Studies looking at compensating wage differentials, however, have only found limited support for this notion. In this paper, a novel approach is undertaken to compare the utilities of non‐profit and for‐profit employees, by using measures of job satisfaction. The...

Studied the interactions among TV program interests, sociodemographic and political characteristics, general life satisfaction, and amount of TV viewing time. Human subjects: 956 normal male and female German adolescents and adults (15 yrs and over). Ss completed interviews and were classified into TV viewer types on the basis of their responses. Analysis of covariance (ANCOVA) was used to determine interactions among viewer type, life satisfaction,...