Journal articles
Year
2024
Authors
WANG Fan, Minardi Stefania, Gilboa Itzhak
Abstract
Consumption decisions are partly influenced by values and ideologies. Consu-mers care about global warming, child labor, fair trade, etc. We develop an axiomaticmodel of intrinsic values—those that are carriers of meaning in and of themselves—andargue that they often introduce discontinuities near zero. For example, a vegetarian’s pre-ferences would be discontinuous near zero amount of animal meat. We distinguish intrin-sic values from instrumental ones, which are means rather than ends and serve as proxiesfor intrinsic values. We illustrate the relevance of our value-based model in different con-texts, including equity concerns and prosocial behavior.
MINARDI, S., WANG, F. et GILBOA, I. (2024). Consumption of Values. Management Science, In press.