Pleasure and belief in Hume's Decision Process

Abstract

The purpose of this paper is to introduce explicitly pleasure and belief in what aims at being a Humean theory of decision, like the one developed in Diaye and Lapidus (2005a). Although we support the idea that Hume was in some way a hedonist – evidently different from Bentham's or Jevons' way – we lay emphasis less on continuity than on the specific kind of hedonism encountered in Hume's writings (chiefly the Treatise, the second Enquiry, the Dissertation, or some of his Essays). Such hedonism clearly contrasts to its standard modern inheritance, expressed by the relation between preferences and utility.

The reason for such a difference with the usual approach lies in the mental process that Hume puts to the fore in order to explain the way pleasure determines desires and volition. Whereas pleasure is primarily, in Hume's words, an impression of sensation, it takes place in the birth of passions as reflecting an idea of pleasure, whose “force and vivacity” is precisely a “belief”, transferred to the direct passions of desire or volition that come immediately before action. As a result, from a Humean point of view, “belief” deals with decision under risk or uncertainty, as well as with intertemporal decision and indiscrimination problems.

The latter are explored within a formal framework, and it is shown that the relation of pleasure is transformed by belief into a non-empty class of relations of desire, among which at least one is a preorder.     

大学英语听说领先教学的实践探索

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Motion Picture-Induced Visual,Vocal and Celebrity Effects on Tourism Motivation: Stimulus Organism Response Model

Motion pictures play a predominant role in enhancing the consumers' awareness of tourism destinations and inspiring their motivation to visit destinations. “Hallyu” (Korean Wave), a platform of Korean cultural exports, has altered the Korean tourism industry and now attracts travelers from around the world. Utilizing the popularity of the Korean Wave, the Korean Tourism Organization promotes Korean tourism attractions through motions pictures, including Korean films, television drama series, music and K-pop. The visual, vocal and celebrity effects which emanate from Korean motion pictures are expected to influence travelers' intent to visit and actual visitation. A questionnaire was distributed to Thai travelers and a total of 191 valid questionnaires were analyzed using regression analysis. The results indicate that visual and vocal effects emanating from Korean motion pictures fueled travelers' intention to visit Korea and explore Korean culture and tourism attractions. However, the results indicate no significant effect of celebrity endorsements on travelers' intentions.     

A Comparison Between the Conventional Stated Preference Technique and an Inferred Valuation Approach

Contrary to conventional stated preference valuation techniques that employ a direct questioning approach, the inferred valuation method utilises indirect questioning where respondents are asked for their belief regarding others’ values for a good or service. In this study, using choice experiments, we compare the results obtained through the two valuation techniques for environmental features of the Burren landscape in western Ireland. Consistent with previous studies, stated values using the conventional approach are found to be significantly higher than those obtained through the inferred valuation approach. In particular, this study highlights the dissimilarities in relative preferences observed between the two landscape attributes (rocky limestone pavements and orchid‐rich grasslands) from the two questioning formats. While respondents were indifferent between the two habitats, they believed the ‘average other’ to be significantly more concerned about the conservation of the rocky limestone pavements. We attribute this divergence in preferences to be a consequence of additional normative motives perceived by respondents with regard to the conservation of orchid‐rich grasslands.     

Latent Class Analysis of Consumer Preferences for Wine in Tirana,Albania

This research aimed to determine wine attributes preferred by consumers in Tirana, Albania, and consumer segments based on preferences and sociodemographic factors. To accomplish these objectives, a conjoint choice experiment was designed. Data were analyzed with the latent class approach. Initial results showed a 5-class model fit best. Results indicated that younger people tend to prefer Italian wines over domestic wines, whereas some older consumers strongly prefer domestic, lower priced wines. Other domestic wine consumers sought higher prices, possibly indicating a niche demand for high-quality Albanian wines. The wine industry and its marketers might use this information to strategically market their wine to different groups. Overall, the majority of the respondents preferred Italian wines, but many might be persuaded toward domestic wine. Government assistance in standardizing the quality of wine and introducing new grape cultivars and efficient farming practices should aid long-term competitiveness of domestic wine in Albania.     

Horticultural Auctions in the Netherlands

This paper depicts the evolution of Dutch auctions during the past hundred years from a "price discovery" institution to a "marketing" institution, focusing on price discovery. A conceptual framework is proposed to assess the suitablility of marketing management by agricultural marketing institutions. The history of Dutch horticultural auctions is briefly reviewed. The conceptual framework proposed is applied to the evolution of Dutch horticultural auctions.     

The loanable funds fallacy: exercises in the analysis of disequilibrium

This essay analyses the core proposition of loanable funds theorythat changes in technology and time preferences directly andimmediately affect interest rates. Applying what may be seenas a generalised financial-buffers approach to the analysisof disequilibrium, we find that loanable funds theory is flawedand should therefore be abandoned. A challenge to the neo-Walrasiangeneral equilibrium approach to monetary theory remains: thatof justifying the idea that—by some mechanism— intertemporalprices correctly reflect technology and time preferences.     

Harvesting to Extinction: Is It Socially Rational?

This paper presents a critique of the neoclassical view of the optimal use of renewable resources and offers an alternative view based on the method of classical thermodynamics. The presentation is forwarded via the issue of harvesting to extinction. Based on simple models, the traditional theory suggests that society would benefit from wiping out any renewable resource whose intrinsic growth rate, though positive, is smaller than the social rate of time preference. The latter is the rate society is using to discount its future benefits and costs. To bypass this ecologically implausible outcome, the simplistic assumptions have been modified in various ways. For example, either the costs or the benefits of harvesting have been made to depend on the stock of the resource as well as on the yield. The modifications offered make society less prone to wipe out resources intentionally, but they still disregard a more fundamental difficulty: The traditional theory is not consistent with the second law of thermodynamics; it describes a process that defies the second law, which no known system is able to be undergoing. No doubt, the theory should be challenged first and foremost on this ground, but none of the offered modifications is capable of annulling this inconsistency. A deeper change is needed because the social values of the resource as perceived by a society that behaves in manners consistent with the second law and as defined by the traditional theory necessarily differ. The paper identifies the socially consistent value and shows that harvesting to extinction is never optimal socially. Were society to follow the socially inconsistent value, it would always underestimate the importance of self-sustained resources. However, the unlikely refutability of the second law turns this possibility and the socially favored extinctions into arguable outcomes of an untenable theory rather than undesirable outcomes of a sound theory. Potentially growing renewable resources are wiped out in real life for various reasons, but when they are preyed to extinction, their unfortunate fate is an outcome of the dynamics of a socially unregulated system rather than a social objective coming to fruition. This revised version was published online in July 2006 with corrections to the Cover Date.     

Decreasing Impatience: A Criterion for Non‐stationary Time Preference and "Hyperbolic" Discounting

Despite recent interest in hyperbolic discounting, there has been little discussion of exactly what property of time preferences is instantiated by hyperbolic or quasi‐hyperbolic functional forms. The paper revives an earlier proposal in Prelec (1989) that the key property is Pratt–Arrow convexity of the log of the discount function, which corresponds to decreasing impatience(DI) at the level of preferences. DI provides a natural criterion for assessing the severity of departure from stationarity in that greater DI is equivalent to more choices of dominated options in two‐stage decision problems, as well as greater convexity of the log of the discount function. Inefficient choices may arise as intentional precommitments, or as unintended reversals of preference by “naïve” agents.     

促进循环经济发展的税收政策浅析

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