Synthesized answer
The book "Preference, Value, Choice, and Welfare" by Daniel M. Hausman clarifies the role of preferences in economics, everyday language, psychology, and philosophical reflection on action and morality [1]. Hausman defends how economists use preferences to explain, predict, and assess behavior and outcomes, but he argues that theories of preference formation require further development [1]. The book also critiques attempts to define welfare in terms of preferences and preferences in terms of choices or self-interest [1].
The analysis within the book aims to clarify the connections between rational choice theory and philosophical accounts of human action [1]. It also provides materials for constructing models of how preferences are formed and modified, and discusses the influence of reason and emotion on preferences [1]. The passages mention Daniel Kahneman and Amos Tversky in relation to this work [1, 2].
Synthesized from the book passages below. Chat with the book on Feynman for follow-up.
From the book
Title: Preference, Value, Choice, and Welfare by Daniel M. Hausman Description: This book is about preferences, principally as they figure in economics. It also explores their uses in everyday language and action, how they are understood in psychology and how they figure in philosophical reflection on action and morality. The book clarifies and for the most part defends the way in which economists invoke preferences to explain, predict and assess behavior and outcomes. Hausman argues, however, that the predictions and explanations economists offer rely on theories of preference formation…
ess & Economics Pages: 169 Snippet: ... <b>Kahneman</b> and Tversky , eds . , pp . 693-708 . 2000b . " Experienced Utility and Objective Happiness : A Moment ... <b>Amos Tversky</b> . 1979. “ Prospect Theory . ” Econometrica 47 : 263-91 . <b>Kahneman</b> , Daniel and <b>Amos Tversky</b> , eds ...