Introducing Procedural Utility: Not Only What, but Also How Matters - 10.1628/0932456041960560 - Mohr Siebeck
Economics

Bruno S. Frey, Matthias Benz, Alois Stutzer

Introducing Procedural Utility: Not Only What, but Also How Matters

Volume 160 () / Issue 3, pp. 377-401 (25)

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People not only care about outcomes; they also value the procedures that lead to the outcomes. Procedural utility is an important source of human well-being. This paper aims at introducing the concept of procedural utility into economics, and argues that it should be incorporated more widely into economic theory and empirical research. Three building blocks of a concept of procedural utility are outlined, and it is suggested how procedural utility can be fruitfully integrated. Evidence from a broad range of social sciences is reviewed in order to show that procedural utility is a relevant concept for economics.

Bernholz, Peter: Monetary Regimes and Inflation: History, Economic and Political Relationships
Authors/Editors

Bruno S. Frey No current data available.

Matthias Benz Geboren 1973; Studium der Allgemeinen Geschichte, Volkswirtschaft und Publizistik in Zürich und Santiago de Compostela; 2003 Promotion zum Dr. oec.; Visiting Research Fellow an der School of Law, University of California at Berkeley.

Alois Stutzer No current data available.

Reviews to

The review deals with:

Bernholz, Peter: Monetary Regimes and Inflation: History, Economic and Political Relationships