Home » Eng Finance » Finance P

Finance P

Select topic from the list on the left. Should you not find what you are looking for, please feel free to send us a message and we will try to find it for you.

Paternalism

Paternalism

The attitude favouring laws and policies which seek to control people’s actions, overriding their preferences for their own good. An example is a variables of the individual agents, rather than on their utility levels. In the overlapping generations economy the paternalistic altruism of a parent is modelled, for example, by including in their utility function the lifetime consumption or income of their offspring, rather than the offspring’s utility level; the latter approach is non-patemalistic altruism.

Reference: Oxford Press Dictonary of Economics, 5th edt.