2011 Fiscal Year Final Research Report
A new theory of consumers and welfare economics with individuals' preferences for opportunity sets of free choices
| Project/Area Number |
21330044
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| Research Category |
Grant-in-Aid for Scientific Research (B)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Economic theory
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| Research Institution | Hitotsubashi University |
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Principal Investigator |
TADENUMA Koichi 一橋大学, 大学院・経済学研究科, 教授 (50227112)
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| Co-Investigator(Kenkyū-buntansha) |
SUZUMURA Kotaro 早稲田大学, 政治経済学術院, 教授 (00017550)
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| Project Period (FY) |
2009 – 2011
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| Keywords | ミクロ経済学 / 厚生経済学 / 消費者理論 / 選択機会への選好 / 合理的選択 / 効率性 |
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| Research Abstract |
We develop a new theory of consumers and welfare economics, assuming that consumers have preferences not only over final consumption bundles but also over opportunity sets of free choices. First, we formulate two distinct procedures of decision-making with more than one choice criteria, and derive conditions under which these procedures satisfy(bounded) rationality. Second, we study whether social states at competitive equilibria are efficient or not when we also take account of individuals' preferences for opportunity sets of free choices, and clarify efficient and inefficient cases.
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