Scitovsky is known as a forerunner of behavioural economics simply because he drew heavily on psychology and claimed that people’s choices may be ‘joyless’ (Scitovsky 1976). However, a careful reformulation of his analysis shows that he anticipated a number of insights (also with respect to Kahneman’s ‘two-systems of thought’) which suggest new lines of inquiry from an original and different perspective. These insights of Scitovsky regard the following aspects: uncertainty as a condition where the outcomes of choosing a particular option (novelty) is partially unknown; the case of individual ‘consumption skill’ (inclusive of emotions) that finds this uncertainty desirable when it is challenging; the case of increasing such skill so as to change preferences and make choices more efficient; the case of failing to increase such skill so as to make addictive harmful products an alternative and more tempting option.
Scitovsky, behavioural economics, and beyond
PUGNO, Maurizio
2014-01-01
Abstract
Scitovsky is known as a forerunner of behavioural economics simply because he drew heavily on psychology and claimed that people’s choices may be ‘joyless’ (Scitovsky 1976). However, a careful reformulation of his analysis shows that he anticipated a number of insights (also with respect to Kahneman’s ‘two-systems of thought’) which suggest new lines of inquiry from an original and different perspective. These insights of Scitovsky regard the following aspects: uncertainty as a condition where the outcomes of choosing a particular option (novelty) is partially unknown; the case of individual ‘consumption skill’ (inclusive of emotions) that finds this uncertainty desirable when it is challenging; the case of increasing such skill so as to change preferences and make choices more efficient; the case of failing to increase such skill so as to make addictive harmful products an alternative and more tempting option.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
