In everyday language, the term "pleasure" is primarily associated with sensory pleasures like the enjoyment of food or sex. The term "happiness" is often used in this tradition to refer to the balance of pleasure over pain. Both pleasure and pain come in degrees and have been thought of as a dimension going from positive degrees through a neutral point to negative degrees. Discussions within hedonism usually focus more on pleasure, but as its negative side, pain is equally implied in these discussions. Pleasure contrasts with pain or suffering, which are forms of feeling bad. Pleasure plays a central role in all forms of hedonism it refers to experience that feels good and involves the enjoyment of something. In this sense, it has a negative connotation, linked to the egoistic pursuit of short-term gratification by indulging in sensory pleasures without regard for the consequences. These technical definitions of hedonism within philosophy, which are usually seen as respectable schools of thought, have to be distinguished from how the term is used in everyday language, sometimes referred to as "folk hedonism". Applied to well-being or what is good for someone, it is the thesis that pleasure and suffering are the only components of well-being. Axiological hedonism, which is sometimes treated as a part of ethical hedonism, is the thesis that only pleasure has intrinsic value. Normative or ethical hedonism, on the other hand, is not about how we actually act but how we ought to act: we should pursue pleasure and avoid pain. Psychological or motivational hedonism claims that human behavior is determined by desires to increase pleasure and to decrease pain. Price changes that are due to substitution effects are subject to hedonic quality adjustments.Hedonism refers to a family of theories, all of which have in common that pleasure plays a central role in them. Hedonic regression is also used in consumer price index (CPI) calculations, where it is used to control for the effects of changes in product quality. Hedonic models can accommodate non-linearity, variable interaction, or other complex valuation situations.Hedonic models are commonly used in real estate appraisal and real estate economics, as houses have a variety of easily-measured traits (Such as the number of rooms, overall size, or distance from certain amenities) which make them more amenable to hedonic regression models than most other goods. Hedonic models are most commonly estimated using regression analysis, although more generalized models exist, such as sales adjustment grids.Īn attribute vector, which may be a dummy or panel variable, is assigned to each characteristic or group of characteristics. This requires that the composite good being valued can be reduced to its constituent parts and the market values of those constituent parts. It breaks down the item being researched into its constituent characteristics, and obtains estimates of the contributory value of each characteristic. In economics, hedonic regression or hedonic demand theory is a revealed preference method of estimating the demand for a good, or equivalently its value to consumers. Wikipedia (0.00 / 0 votes) Rate this definition:
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |