Anomalies: Utility Maximization and Experienced Utility

By Daniel Kahneman, Richard H. Thaler. 2005

673 citations recorded by the source corpus.

Subfields: Economics and Econometrics, General Decision Sciences

View Paper: https://www.semanticscholar.org/paper/69eb6c2d4620b4939b9bc05ce6b4cce07530a97e

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Citations in the corpus

Valuation Techniques for Social Cost-Benefit Analysis: (2011, background): “They therefore tend to over-estimate the utility gain that will result from events, circumstances or outcomes (Kahneman and Thaler, 2006; Loewenstein and Adler, 1995).”
Beyond the hedonic treadmill: revising the adaptation theory of well-being. (2006, background): “Why do adaptation effects appear to vary across different events and circumstances? Although some theories (e.g., Kahneman & Thaler, 2006 ) offer predictions about the differential adaptation across varying events, these theories do not seem to explain the full set of results.”
The Friendship Paradox and Systematic Biases in Perceptions and Social Norms (2016, positive): “Thus, following the terminology of Kahneman and Thaler (2006) it is important to distinguish between the ‘decision utility’ that agents perceive when making choices, and the ‘experience utility’ that they ultimately receive once the game is played.”
Animal spirits and monetary policy (2008, background): “The cognitive limitations of individuals have now been abundantly documented by psychologists and brain scientists (For recent surveys, see Kahneman and Thaler (2006) and Della Vigna(2007).”
Are You Happy While You Work (2017, background): “Since our respondents are drawn from the upper echelons of the income distribution where job quality is better, and since we know from other work (Kahneman et al., 2004) that the nature of the job can affect responses to these sorts of questions, this might lead us to expect that the association…”
Migration, Risk, and Uncertainty: Theoretical Perspectives (2012, background): “For example, ‘anchoring’ (Kahneman and Thaler, 2006: 223) involves making a two stage estimate of an outcome in the face of uncertainty.”
Fair Air: Distributive Justice and Environmental Economics (2010, methodology): “…is wellbeing rather than choice, following, for example, Broome (1999), Ng (1999), O’Donoghue and Rabin (2006), Johansson-Stenman (2008), or, using the terminology of Kahneman et al. (1997), Kahneman and Thaler (2006), to assume that what matters is experienced utility rather than decision utility.”
Making it last: Combating hedonic adaptation in romantic relationships (2013, positive): “When a person no longer attends to and appreciates his partner, he will essentially stop garnering any positivity or benefiting from having a partner, which is the very definition of adaptation (cf. Kahneman & Thaler, 2006).”
Education as a Positional Good: A Life Satisfaction Approach (2011, background): “can be found in Kahneman and Thaler (2006) .”
The behavioural economics of climate change (2008, background): “…that in a situation where people are not necessarily doing what is best for themselves, it is their experienced utility, or well-being, rather than their decision utility, as reflected by their choice, that matters from a normative perspective (see Kahneman et al., 1997; Kahneman and Thaler, 2006).”