From outcome-based to language-based preferences

Capraro, Valerio ORCID logoORCID: https://orcid.org/0000-0002-0579-0166, Halpern, Joseph Y. and Perc, Matjaž ORCID logoORCID: https://orcid.org/0000-0002-3087-541X (2022) From outcome-based to language-based preferences. Journal of Economic Literature . ISSN 0022-0515 [Article] (Accepted/In press) (doi:10.1257/jel.20221613)

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Abstract

We review the literature on models that try to explain human behavior in social interactions described by normal-form games with monetary payoffs. We start by covering social and moral preferences. We then focus on the growing body of research showing that people react to the language in which actions are described, especially when it activates moral concerns. We conclude by arguing that behavioral economics is in the midst of a paradigm shift towards language-based preferences, which will require an exploration of new models and experimental setups.

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Research Areas: A. > Business School > Economics
Item ID: 35482
Notes on copyright: Copyright © 2022 American Economic Association
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Depositing User: Valerio Capraro
Date Deposited: 26 Jul 2022 15:39
Last Modified: 23 Aug 2022 03:04
URI: https://eprints.mdx.ac.uk/id/eprint/35482

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