Synthesized answer
The text, "Preference, Value, Choice, and Welfare" by Daniel M. Hausman, primarily focuses on preferences as they are used in economics [1]. It examines their role in everyday language and actions, as well as their understanding in psychology and philosophical reflections on action and morality [1].
Hausman's central argument is that economists' explanations and predictions of behavior and outcomes depend on theories of preference formation that require further development [1]. He also critiques attempts to define welfare through preferences and to define preferences through choices or self-interest [1]. The analysis aims to clarify the relationship between rational choice theory and philosophical accounts of human action, and it provides material for constructing models of how preferences form and change, noting the influence of reason and emotion on preferences [1].
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 ...