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Vol.2 , No. 6, Publication Date: Jan. 7, 2016, Page: 93-99
| [1] | Jose Israel Briseño Perezyera, Escuela Superior de Economía, Instituto Politécnico Nacional, Plan de Agua Prieta 66, Miguel Hidalgo, México, D. F., México. |
| [2] | Omar Neme Castillo, Escuela Superior de Economía, Instituto Politécnico Nacional, Plan de Agua Prieta 66, Miguel Hidalgo, México, D. F., México. |
The paper regards the theoretical models that incorporate envy and altruism in individual consumption functions. Then, since they are characteristics shown by individuals we explicitly model both concepts in an extended utility function. This allows considering the consumption of individuals has direct impact in welfare levels of families and goes beyond the assumption about income or expense as determinants of individual utility. One of the contributions of this utility function is that, for example, public policy should now focus on encouraging relationships between individuals as pro-wellbeing mechanism and stop considering exclusively relationships among individual and objects.
Keywords
Altruism, Envy, Selfish, Consumption
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