Class notes
UEC22306 - Lecture Notes
- Course
- Institution
This summary contains the lecture notes of the UEC 22306 course of the WUR. Second year BBC in consumer specialization.
[Show more]
Seller
Follow
julievanberckel
Content preview
Summary UEC – Lecture NotesLECTURE 1
A nudge is any aspect of the choice argitecture that alters people’s behavior in a predictable
way without forbidding any options or significantly changing their economic incentives.
Bounded rationality: people are not fully rational; they do not take all the information into
account.
Bounded willpower: people are not fully able to control themselves
Bounded selfishness: people are not only concerned about their own outcome.
LECTURE 2
Degrowth: a declining state is unavoidably coming upon us: ensuring that his process will
lead to a more just society with a different image of a ‘good life’ and not a catastrophic
economic recession is the challenging task we are faced with now.
- Challenges hegemony of economic growth
- Calls for downscaling of production and consumption
- Aims to achieve environmental sustainability, social justice, and wellbeing
Moral economy: economic activities that are influenced by moral political norms &
sentiments. A political economy which promotes & prioritizes wellbeing and flourishing
that’s underpinned by the right decision & good behavior.
Descriptive morality: condes of conduct put forward by society or accepted by an individual
for her own behavior
Normative morality: codes of conduct that would be put forward by all rational people.
State regulation = macro level
Collective custom = meso level
Lay normative = micro level
LECTURE 3
Income inequality has a negative impact on health measured by various indicators
Egalitarian view on health care:
- It’s for everyone
- Public financed system
- Distribution according to need
Libertarian view on health care:
- Access is par of society’s reward system
- Privately financed
- Distribution according to willingness to pay/ability to pay
Horizontal equity: the equal treatment of equals; people with similar needs need to have the
same opportunities to access and use care
, Vertical equity: the unequal treatment of unequals; people with specific needs need to be
able to get that care
- Progressive system: income spent on care rises as income rises (K>0)
- Regressive system: income spent on care falls as income rises (K<0)
- Proportional system: income spent on care doesn’t vary as income rises (K=0)
LECTURE 4
Hedonic: pleasure seeking
Eudemonic: flourishing everybody’s skills come out
Behind actions lay unobserved needs and desires that motivate human behavior.
Wellbeing is a multidimensional framework that includes cognitive evaluations of positive &
negative effects.
Subjective reports of happiness:
- In the past are lower than in the present
- In the future are higher than in the present
Decision utility = perceived satisfaction associated with choice among several alternatives.
Experienced utility = satisfaction realized from the outcome chosen
Happiness = momentary feeling of joy & pleasure
Life-satisfaction = overall contentment with life
Wellbeing = more general state of being comfortable, healthy, or happy in society
Welfare = the health, happiness, and financial wealth of a person or a group
Objective measures of wellbeing = based on observations and evaluations by an impartial
outsider
Subjective reports of wellbeing = based on self-appraisals of implicit criteria
Subjective wellbeing of consumers is influenced by:
- Reference effects: relative outcomes can be more important for individuals than
absolute outcomes
- Effort reduction: making life easy, making easy choices
- Values & experiences: at a given point, individuals may derive wellbeing from
experiences rather than from consumption itself
Endowment effect: acquiring material possessions = more happiness
Easterlin paradox: happiness goes together with income, but at a certain point in time,
happiness does not grow when income grows.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller julievanberckel. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.95. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53022 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now