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The Standard Economic Approach To Changing Tastes Change Over Time

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The Standard Economic Approach To Changing Tastes Change Over Time
People’s tastes change over time in system- atic ways. A person’s taste for cake depends on whether she is hungry or satiated; her taste for coffee depends on whether she has developed that taste; and her (dis)taste for a chronic medical condition depends on whether she has adapted to that condition. The standard economic approach to changing tastes assumes that peo- ple accurately predict changes in their tastes— either they know exactly how their tastes will change when taste changes are deterministic, or they have a correct model of how their tastes will change when taste changes are
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