This chapter examines the notion of regret and the ethical intuition that goes against fresh starts. More specifically, it asks whether people who regret their past decisions should be compelled to bear the consequences just as if they were still happy about them. The chapter first considers two kinds of regret, one of which is linked to learning and the other can be depicted in terms of genuine changes in preferences. It then explains freedom and forgiveness before turning to the paradox of fresh start policies. It also describes a framework where individuals make decisions over their life regarding education (how much time to spend at school), earnings (how much to work) and savings and consumption.
|Original language||English (US)|
|Title of host publication||Fairness, Responsibility, and Welfare|
|Publisher||Oxford University Press|
|State||Published - Apr 30 2015|
All Science Journal Classification (ASJC) codes
- Economics, Econometrics and Finance(all)
- Fresh starts