Economics Impact On Moral Values

Economic In‡ uences on Moral Values Robert Östlingy surgical incision of political economy Stockholm train of economic wisdom SSE/EFI Working physical composition Series in economic science and Finance No 635 September, 2006 pluck This paper extends standard consumer theory to account for endogenous deterrent example motivation. make on cognitive dissonance theory, I turn in how clean values are a¤ected by changes in prices and income. The key insight is that changes in prices and income that lead to higher spending of an im moralistic good also a¤ect the moral values held by the consumer so that the good ordain be considered as less immoral. jel classification: D11. keywords: Consumer theory, moral values, endogenous preferences, cognitive dissonance, self-serving bias. I would like to thank Colin Camerer, Tore Ellingsen, Ernst Fehr, Erik Lindqvist, Erik Mohlin and participants at the CEU Behavioral Economics Workshop 2004 and the NNE Summer direct in Beha vioral Economics 2004 as well as several fellow students at the Stockholm School of Economics for valuable comments. Financial support from the Jan Wallander and Tom Hedelius Foundation is thankfully acknowledged. y Department of Economics, Stockholm School of Economics, P.O. Box 6501, SE 113 83 Stockholm, Sweden. Phone: +46-8-7369652. Fax: +46-8-313207. E-mail: robert.ostling@hhs.se.

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