The cost of love: Solving the gift anomaly
<p dir="ltr">Friendship‐and‐love affords bonding that satisfies what can be called “transcendental preferences”—in contradistinction of “substantive preferences” afforded by, for example, food, clothes, and shelter. Substantive preferences involve ordinary “substantive cost,” whereas...
محفوظ في:
| المؤلف الرئيسي: | |
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| منشور في: |
2023
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| الموضوعات: | |
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| _version_ | 1864513526949740544 |
|---|---|
| author | Elias L. Khalil (20518877) |
| author_facet | Elias L. Khalil (20518877) |
| author_role | author |
| dc.creator.none.fl_str_mv | Elias L. Khalil (20518877) |
| dc.date.none.fl_str_mv | 2023-08-30T03:00:00Z |
| dc.identifier.none.fl_str_mv | 10.1111/kykl.12355 |
| dc.relation.none.fl_str_mv | https://figshare.com/articles/journal_contribution/The_cost_of_love_Solving_the_gift_anomaly/25249159 |
| dc.rights.none.fl_str_mv | CC BY 4.0 info:eu-repo/semantics/openAccess |
| dc.subject.none.fl_str_mv | Economics Applied economics Human society Policy and administration Social work Sociology Philosophy and religious studies Applied ethics Philosophy Gift anomaly Substantive cost Emotional cost Commodification taboo Rational choice theory Budget constraint Neoclassical economics critique Repugnant transactions Endowment effect Behavioral economics Altruism vs love |
| dc.title.none.fl_str_mv | The cost of love: Solving the gift anomaly |
| dc.type.none.fl_str_mv | Text Journal contribution info:eu-repo/semantics/publishedVersion text contribution to journal |
| description | <p dir="ltr">Friendship‐and‐love affords bonding that satisfies what can be called “transcendental preferences”—in contradistinction of “substantive preferences” afforded by, for example, food, clothes, and shelter. Substantive preferences involve ordinary “substantive cost,” whereas transcendental preferences involve “bonding cost” that includes heartaches, obsession, and emotional turmoil. What about the cost of gifts such as flowers, time, and other carriers of friendship‐and‐love? The greater is the expenditure on gifts, the greater the bonding cost. This paper investigates the following question: How should we model bonding cost, which includes the cost of gift, in relation to substantive cost? Given bonding cost and substantive cost share the same budget, neoclassical economists treat them as commensurable and, hence, transcendental and substantive preferences make up a unidimensional objective function. This treatment, however, originates the “gift anomaly”: If people easily substitute between the two genera of preferences, why do they consider the demand of payments for visiting their grandmothers—or payments for voting and sexual intercourse—as repugnant (taboo)? To solve the gift anomaly, this paper is critical of the standard economist's entry point. This paper proposes bonding and substantive costs as incommensurable and, corollary, transcendental and substantive preferences as incommensurable as well. This paper further shows how, without undermining the incommensurability thesis, the incommensurability is up to a limit: the two genera of costs and, corollary, the two genera of preferences are still linked via the income effect—as opposed to the substitution effect.</p><h2>Other Information</h2><p dir="ltr">Published in: Kyklos<br>License: <a href="http://creativecommons.org/licenses/by/4.0/" target="_blank">http://creativecommons.org/licenses/by/4.0/</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.1111/kykl.12355" target="_blank">https://dx.doi.org/10.1111/kykl.12355</a></p> |
| eu_rights_str_mv | openAccess |
| id | Manara2_59c32050d3c413a95b43c7c50698ba97 |
| identifier_str_mv | 10.1111/kykl.12355 |
| network_acronym_str | Manara2 |
| network_name_str | Manara2 |
| oai_identifier_str | oai:figshare.com:article/25249159 |
| publishDate | 2023 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| rights_invalid_str_mv | CC BY 4.0 |
| spelling | The cost of love: Solving the gift anomalyElias L. Khalil (20518877)EconomicsApplied economicsHuman societyPolicy and administrationSocial workSociologyPhilosophy and religious studiesApplied ethicsPhilosophyGift anomalySubstantive costEmotional costCommodification tabooRational choice theoryBudget constraintNeoclassical economics critiqueRepugnant transactionsEndowment effectBehavioral economicsAltruism vs love<p dir="ltr">Friendship‐and‐love affords bonding that satisfies what can be called “transcendental preferences”—in contradistinction of “substantive preferences” afforded by, for example, food, clothes, and shelter. Substantive preferences involve ordinary “substantive cost,” whereas transcendental preferences involve “bonding cost” that includes heartaches, obsession, and emotional turmoil. What about the cost of gifts such as flowers, time, and other carriers of friendship‐and‐love? The greater is the expenditure on gifts, the greater the bonding cost. This paper investigates the following question: How should we model bonding cost, which includes the cost of gift, in relation to substantive cost? Given bonding cost and substantive cost share the same budget, neoclassical economists treat them as commensurable and, hence, transcendental and substantive preferences make up a unidimensional objective function. This treatment, however, originates the “gift anomaly”: If people easily substitute between the two genera of preferences, why do they consider the demand of payments for visiting their grandmothers—or payments for voting and sexual intercourse—as repugnant (taboo)? To solve the gift anomaly, this paper is critical of the standard economist's entry point. This paper proposes bonding and substantive costs as incommensurable and, corollary, transcendental and substantive preferences as incommensurable as well. This paper further shows how, without undermining the incommensurability thesis, the incommensurability is up to a limit: the two genera of costs and, corollary, the two genera of preferences are still linked via the income effect—as opposed to the substitution effect.</p><h2>Other Information</h2><p dir="ltr">Published in: Kyklos<br>License: <a href="http://creativecommons.org/licenses/by/4.0/" target="_blank">http://creativecommons.org/licenses/by/4.0/</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.1111/kykl.12355" target="_blank">https://dx.doi.org/10.1111/kykl.12355</a></p>2023-08-30T03:00:00ZTextJournal contributioninfo:eu-repo/semantics/publishedVersiontextcontribution to journal10.1111/kykl.12355https://figshare.com/articles/journal_contribution/The_cost_of_love_Solving_the_gift_anomaly/25249159CC BY 4.0info:eu-repo/semantics/openAccessoai:figshare.com:article/252491592023-08-30T03:00:00Z |
| spellingShingle | The cost of love: Solving the gift anomaly Elias L. Khalil (20518877) Economics Applied economics Human society Policy and administration Social work Sociology Philosophy and religious studies Applied ethics Philosophy Gift anomaly Substantive cost Emotional cost Commodification taboo Rational choice theory Budget constraint Neoclassical economics critique Repugnant transactions Endowment effect Behavioral economics Altruism vs love |
| status_str | publishedVersion |
| title | The cost of love: Solving the gift anomaly |
| title_full | The cost of love: Solving the gift anomaly |
| title_fullStr | The cost of love: Solving the gift anomaly |
| title_full_unstemmed | The cost of love: Solving the gift anomaly |
| title_short | The cost of love: Solving the gift anomaly |
| title_sort | The cost of love: Solving the gift anomaly |
| topic | Economics Applied economics Human society Policy and administration Social work Sociology Philosophy and religious studies Applied ethics Philosophy Gift anomaly Substantive cost Emotional cost Commodification taboo Rational choice theory Budget constraint Neoclassical economics critique Repugnant transactions Endowment effect Behavioral economics Altruism vs love |