Matthias Benz
Institutionen und menschliches Wohlergehen
Die Rolle von Prozessnutzen in Wirtschaft und Gesellschaft
[Institutions and Human Well-Being. The Role of Procedural Utility in the Economy and Society.]
2004. IX, 190 pages. Published in German.
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Summary
Institutions are of great importance for the material welfare of societies. However, they also affect human well-being beyond material outcomes in the form of procedural utility. Procedural utility means that people do not only care about material results, but also value the processes and conditions which lead to these results. Procedural utility is an empirically relevant phenomenon in many areas of the economy, politics and society.