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1、TheNewScienceofPleasureConsumerChoiceBehaviorandtheMeasurementofWell-Being1DanielMcFaddenE.MorrisCoxProfessorofEconomics,UniversityofCalifornia,BerkeleyPresidentialProfessorofHealthEconomics,UniversityofSouthernCaliforniaDecember28,2012ForthcominginHandbookofChoiceModelling,S.HessandA.J.Daly,
2、(eds.),EdwardElgar,2013.ABSTRACT:EconomistssincethedaysofAdamSmithandJeremyBenthamhavetraditionallyviewedconsumersasdrivenbyrelentlessandconsistentpursuitofself-interest,withtheirchoicesinthemarketplaceprovidingallthemeasurementsneededtorevealtheirpreferencesandassesstheirwell-being.Thistheor
3、yofconsumerchoiceisempiricallysuccessful,andprovidesthefoundationformosteconomicpolicy.However,thetraditionalviewisnowbeingchallengedbyevidencefromcognitivepsychology,anthropology,evolutionarybiology,andneurology.Thispaperbeginsbysurveyingtheoriginsofneoclassicalconsumerchoicetheoryandrecentd
4、evelopments.Followingthis,itreviewsthenewerevidenceonconsumerbehavior,andwhatthisimpliesforthemeasurementofconsumerchoicebehaviorandwell-being.1AninitialversionofthispaperwaspresentedastheFrischLecture,EconometricSocietyWorldCongress,London,2005.ThisresearchwassupportedbytheE.MorrisCoxendowme
5、ntattheUniversityofCalifornia,Berkeley,andbytheNationalInstituteonAgingoftheNationalInstitutesofHealth,grantsP01AG005842,P01AG033559,andRC4AG039036.IamindebtedtoSamBowles,ColinCamerer,JohnDagsvik,ErnstFehr,MogensFosgerau,JamesHeckman,DannyKahneman,DavidLaibson,CharlesManski,RosaMatzkin,andJoa
6、chimWinterforusefulcomments.ContentsIIntroduction1IIPleasure,Pain,Utility2IIIFirstMeasurements9IVTheStoneAge9VMeasurementofWell-Being12VIExpansions14VI.1PreferenceHeterogeneity15VI.2NonlinearBudgetSets16VI.3HedonicGoodsandHouseholdProduction17VI.4ConsumerDynamics20VIINewFrontiers23VII.1Stated
7、PreferencesandConjointAnalysis24VII.2MeasurementsfromCognitivePsychology26VII.3TheSocialityofChoice29VII.4SensationandNeuroeconomics32VIIITheFuture37References38FiguresandTables45TheNewScienceofPleasureConsumerChoiceBehaviorandtheMeasuremento
