Synthesized answer
The provided passages do not explicitly state the practical implications discussed in the book.
The passages describe Daniel M. Hausman's book, which explores preferences as they relate to economics, everyday language, psychology, and philosophy [1]. Hausman defends the economists' use of preferences to explain, predict, and assess behavior and outcomes, but argues for further development of theories of preference formation [1]. He also criticizes defining welfare in terms of preferences and vice versa, and examines the connections between rational choice theory and philosophical accounts of human action [1]. The passages mention that the book assembles materials for models of preference formation and modification, and comments on the influence of reason and emotion on preferences [1]. However, the specific practical implications are not detailed.
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 ...