Economic Analysis of Taste

Author: Becker Li Jie et al. (USA)
Publisher:
Publish Date: 2000-11-01
Features: As far as I know, this series of books is the first attempt to systematically publish the important works of all laureates. The publication of the series itself holds great significance, and its release in China is even more profound. I hope its publication will not only contribute to the development of economics but also directly promote the development of China's economy.
The Nobel Committee for Economic Sciences in Sweden – Torsten Persson: Although the papers in this book are independent of each other, they are all related to the formation of preferences of rational, forward-looking individuals. In this fundamental sense, they are unified. One paper provides a general framework for the formation of rational preferences, which is built around two types of capital stock: personal capital and social capital. Both types of capital stock are part of an individual's utility function and have a significant impact on individual behavior. Personal capital depends on the recursive relationship between an individual's current choices and their future desires. Social capital introduces the effects of the behavior and attitudes of an individual's parents, other relatives, friends, neighbors, work colleagues, and other peer groups on their desires. This series of books is the first attempt to systematically publish the important works of all laureates. The publication of the series itself holds great significance, and its release in China is even more profound. I hope its publication will not only contribute to the development of economics but also directly promote the development of China's economy.