Mispredicting Utility and the Political Process

作者: Alois Stutzer , Bruno S. Frey

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摘要: In important situations, individual decision-making is systematically biased. When deciding (rather than consuming), extrinsic attributes of choice options are more salient intrinsic attributes. People overestimate and therefore put too much effort into acquiring income gaining status, lowering their utility level. These mistakes accentuated in authoritarian systems at least carried forward a perfectly competitive democratic system party competition. modern democracies, public discourse puts people's partial awareness anomalous behavior on the political agenda. Various policies can help people to overcome biases due misprediction.

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