A Cost–Signaling Theory of Preference Shaping and Some of its Implications

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Two obstacles have barred the revelation of a mechanism of preference shaping: (1) economists have focused on the shaping of preferences for ordinary goods, a case in which causal connections are very intricate and (2) satisfaction has been taking as a final end. It is the shaping of cultural preferences for the cultural goods (wealth and power) and looking at preferences as a means for depicting the anti-entropic process that life is which reveals a clear and simple rule: preference rankings are shaped inversely related to the opportunity costs of goods and actions that humans face.

Keywords: Satisfaction, Preference Shaping, Entropy Law, Institutional Choice, Economic Growth
Stream: Psychology, Cognitive Science and Behavioural Sciences
Presentation Type: Paper Presentation in English
Paper: A paper has not yet been submitted.

Prof. Paul Fudulu

Professor of Economics, Faculty of Political Sciences, University of Bucharest
Bucharest, Romania

Paul Fudulu is a professor of economics at the Faculty for Political Study, University of Bucharest and, simultaneously, is a Senior Researcher at the Center for Compared and Consensual Economics within the Romanian Academy. He has taken part in many international research programs and conferences. For two academic years, he was a visiting scholar at the Center for Study of Public Choice, George Mason University, Virginia, an academic place he feels closely associated with. He wrote studies, books, and booklets on the theory of justice, international exchange and monetary theory, economics of education, culture and economic growth. Ideas from his book Metamaximization: Wealth and Justice were published in JEBO. Currently he is writing a book on externalities and education.

Ref: I08P0266