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The Direct Measurement Of Cardinal Utility
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Book Synopsis The Direct Measurement of Cardinal Utility by : M. G. Benthall
Download or read book The Direct Measurement of Cardinal Utility written by M. G. Benthall and published by Xlibris UK. This book was released on 2019-11-21 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book establishes a saturating consumption function by non-linear regression reducing residual error by over 85%. From this, equations for the demand functions in competitive, speculative and Giffen-good markets were derived and substitution was re-examined. Equations for indifference curves and equilibrium equations of increasing complexity in all combinations of these markets were thence deduced. Equilibrium solutions were found to be unique by fairly straightforward mathematics whenever one of the goods was a competitive good. What is thought to be a new mathematical technique referred to as 'Quasi Analytical Approximation' was developed to demonstrate uniqueness in other cases. From this matrix equations for general equilibrium for all combinations of markets including monopoly and oligopoly markets were derived and solved. The book also explores the implications of the new theory for consumer choice, money, borrowing and welfare economics.
Book Synopsis The Measurement of Utility by : Tapas Majumdar
Download or read book The Measurement of Utility written by Tapas Majumdar and published by . This book was released on 1961 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Measuring Utility written by Ivan Moscati and published by Oxford Studies in History of E. This book was released on 2018-11-22 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: Utility is a key concept in the economics of individual decision-making. However, utility is not measurable in a straightforward way. As a result, from the very beginning there has been debates about the meaning of utility as well as how to measure it. This book is an innovative investigation of how these arguments changed over time. Measuring Utility reconstructs economists' ideas and discussions about utility measurement from 1870 to 1985, as well as their attempts to measure utility empirically. The book brings into focus the interplay between the evolution of utility analysis, economists' ideas about utility measurement, and their conception of what measurement in general means. It also explores the relationships between the history of utility measurement in economics, the history of the measurement of sensations in psychology, and the history of measurement theory in general. Finally, the book discusses some methodological problems related to utility measurement, such as the epistemological status of the utility concept and its measures. The first part covers the period 1870-1910, and discusses the issue of utility measurement in the theories of Jevons, Menger, Walras and other early utility theorists. Part II deals with the emergence of the notions of ordinal and cardinal utility during the period 1900-1945, and discusses two early attempts to give an empirical content to the notion of utility. Part III focuses on the 1945-1955 debate on utility measurement that was originated by von Neumann and Morgenstern's expected utility theory (EUT). Part IV reconstructs the experimental attempts to measure the utility of money between 1950 and 1985 within the framework provided by EUT. This historical and epistemological overview provides keen insights into current debates about rational choice theory and behavioral economics in the theory of individual decision-making and the philosophy of economics.
Download or read book Measuring Utility written by Ivan Moscati and published by Oxford University Press. This book was released on 2018-10-25 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Utility is a key concept in the economics of individual decision-making. However, utility is not measurable in a straightforward way. As a result, from the very beginning there has been debates about the meaning of utility as well as how to measure it. This book is an innovative investigation of how these arguments changed over time. Measuring Utility reconstructs economists' ideas and discussions about utility measurement from 1870 to 1985, as well as their attempts to measure utility empirically. The book brings into focus the interplay between the evolution of utility analysis, economists' ideas about utility measurement, and their conception of what measurement in general means. It also explores the relationships between the history of utility measurement in economics, the history of the measurement of sensations in psychology, and the history of measurement theory in general. Finally, the book discusses some methodological problems related to utility measurement, such as the epistemological status of the utility concept and its measures. The first part covers the period 1870-1910, and discusses the issue of utility measurement in the theories of Jevons, Menger, Walras and other early utility theorists. Part II deals with the emergence of the notions of ordinal and cardinal utility during the period 1900-1945, and discusses two early attempts to give an empirical content to the notion of utility. Part III focuses on the 1945-1955 debate on utility measurement that was originated by von Neumann and Morgenstern's expected utility theory (EUT). Part IV reconstructs the experimental attempts to measure the utility of money between 1950 and 1985 within the framework provided by EUT. This historical and epistemological overview provides keen insights into current debates about rational choice theory and behavioral economics in the theory of individual decision-making and the philosophy of economics.
Book Synopsis Early Cardinal Utility Theory by : George J. Malanos
Download or read book Early Cardinal Utility Theory written by George J. Malanos and published by . This book was released on 1960 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economic Theory and Measurement of Environmental Benefits by : Per-Olov Johansson
Download or read book The Economic Theory and Measurement of Environmental Benefits written by Per-Olov Johansson and published by Cambridge University Press. This book was released on 1987-10-29 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive survey of developments in the theory of measurement of welfare is applied to issues relevant to environmental economics in this advanced study.
Download or read book Economics written by Howard J Sherman and published by Routledge. This book was released on 2015-01-28 with total page 761 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduces students to both traditional economic views and their progressive critique. This book offers a discussion of economic history and the history of economic thought, including the ideas of Karl Marx, Thorstein Veblen, and John Maynard Keynes. It also includes pedagogical tools to encourage student participation and learning.
Book Synopsis The Behavioral and Welfare Analysis of Consumption by : Federico Perali
Download or read book The Behavioral and Welfare Analysis of Consumption written by Federico Perali and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: The motive force of human activity that propels the stream of progress is here caught at its source, in its most modest, material expressions. The mechanism of the passions acting as determinant in these low spheres is less complex and can therefore be observed with greater precision. All one need do is leave the picture its clear, calm colors and its simple design. Gradually, as that search for material well-being by which man is tormented grows and expand, it also tends to rise and pursue an ascendant course thorough the social classes. In 'I Malavoglia' it is still only the struggle for material needs. Once these needs are satisfied, the search turns into greed for riches and will be embedded in a bourgeois type . . . Giovanni Verga, from the Introduction to The House by the Medlar Tree (I Malavoglia) Motivation In the past decade, many less developed countries have undertaken structural adjustment programs with the hope of breaking the vicious circle of the depression that enveloped them during the 1980s and of loosening the suffocating grip of the debt crisis. Nearly always, macroeconomic stabilization implies a reduction of public spending and, consequently, a reduction of subsidies on wage goods and food production. Other macro policies, such as tariff elimination and exchange rates alignment, alter relative prices and may have significant effects on the level and distribution of income. Today, poverty and inequality are perceived as economic threats as a result of globalization and unbalanced market expansion.
Book Synopsis The Paradox of Democratic Capitalism by : David F. Prindle
Download or read book The Paradox of Democratic Capitalism written by David F. Prindle and published by JHU Press. This book was released on 2006-08-25 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: A truly interdisciplinary enterprise, The Paradox of Democratic Capitalism examines the interplay of ideas about politics, economics, and law in American society from the pre-revolutionary era to the eve of the September 11 attacks. David F. Prindle argues that while the United States was founded on liberalism, there is constant tension between two ideals of the liberal tradition: capitalism and democracy. Tracing the rise of natural law doctrine from neoclassical economics, Prindle examines the influence of economic development in late medieval society on the emergence of classical liberalism in early America and likens that influence to the impact of orthodox economics on contemporary American society. Prindle also evaluates political, economic, and legal ideas through the lens of his own beliefs. He warns against the emerging extremes of liberal ideology in contemporary American politics, where the right's definition of capitalism excludes interference from democratic publics and the left's definition of democracy excludes a market-based economy.
Download or read book Cardinalism written by M. Allais and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: THE CONCEPTION OF THIS VOLUME This volume, Cardinalism, has been initiated by Ole Hagen, and is now published due to his perseverance and to Kluwer Academic Publishers. Because of various activities and duties, my contribution to the general conception of this volume has only been formal, and all the credit for it is due to Ole Hagen. I should also emphasize that the responsibility for the year's delay in the publishing of this volume is entirely mine, for two reasons. First of all, I have been involved in many works in very different fields. Second, the English translation of my 1943 contribution to the concept of cardinal utility took some time. The points of view the reader will find in this volume are often different and sometimes contradictory, but this can only increase the interest of its reading. In any case, this is not the editors' part to side with or against. Thus contributions to this volume are presented as they have been submit ted to the editors. Of course, this does not mean that they entirely agree with the analyses presented. MAURICE ALLAIS M. Allais and O. Hagen (eds.), Cardinalism, vii INTRODUCTION Everyone's conscious choices are assumed to reflect their preferences in different situations. For some purposes it serves the theorist's preference for simplicity to assume that a person's life style can be described by the values of some concrete variables, such as quantities of goods available.
Book Synopsis Social Limits to Economic Theory by : Jonathan D Mulberg
Download or read book Social Limits to Economic Theory written by Jonathan D Mulberg and published by Routledge. This book was released on 2005-09-26 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern economics makes much of its claim to be impartial, objective and value-free but it is unable to address our most immediate problems such as widespread environmental degradation and persistent poverty. In Social Limits to Economic Theory Jon Mulberg argues for a new progressive political economy, based on notions of community and justice and incorporating environmental and ethical considerations. In doing so he provides the best introduction to date to critical, non-orthodox economics.
Book Synopsis Measuring Development: the Role and Adequacy of Development Indicators by : Nancy Baster
Download or read book Measuring Development: the Role and Adequacy of Development Indicators written by Nancy Baster and published by Routledge. This book was released on 2018-10-24 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1972. This issue is concerned with development (and development indicators) in a particular period of time and in a particular historical context—namely in the context of the changes that are taking place in the less-developed or low-income countries of the third world in the period since World War II.
Book Synopsis Patrick Suppes, Economics, and Economic Methodology by : John B. Davis
Download or read book Patrick Suppes, Economics, and Economic Methodology written by John B. Davis and published by Routledge. This book was released on 2018-12-07 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: Patrick Suppes (1922–2014) was an extraordinarily wide-ranging scholar. Although best known as a philosopher of science, Suppes made substantial contributions to a remarkably wide range of different fields of research including many relevant to economics: decision theory, philosophy of economics, modeling theory, foundations of measurement, philosophy of psychology (and thus what is now behavioral economics), and many other fields. This collection recognizes Suppes’s contributions to economics and economic methodology with a symposium of papers that examine, build on, and/or assess Suppes’s research in these areas. The authors include philosophers, economists, game theorists, historians of economics, and many whose research combine these fields. This book honors Patrick Suppes, while at the same time, exhibiting the richness of contemporary philosophy of economics. It was originally published as a special issue of the Journal of Economic Methodology.
Book Synopsis The Wiley Blackwell Handbook of Judgment and Decision Making, 2 Volume Set by : Gideon Keren
Download or read book The Wiley Blackwell Handbook of Judgment and Decision Making, 2 Volume Set written by Gideon Keren and published by John Wiley & Sons. This book was released on 2016-02-16 with total page 1056 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive, up-to-date examination of the most important theory, concepts, methodological approaches, and applications in the burgeoning field of judgment and decision making (JDM) Emphasizes the growth of JDM applications with chapters devoted to medical decision making, decision making and the law, consumer behavior, and more Addresses controversial topics from multiple perspectives – such as choice from description versus choice from experience – and contrasts between empirical methodologies employed in behavioral economics and psychology Brings together a multi-disciplinary group of contributors from across the social sciences, including psychology, economics, marketing, finance, public policy, sociology, and philosophy 2 Volumes
Book Synopsis Decision Synthesis by : Stephen R. Watson
Download or read book Decision Synthesis written by Stephen R. Watson and published by Cambridge University Press. This book was released on 1987 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offers a comprehensive overview of the theory of decision making and its practical application in decision analysis.
Book Synopsis On a very cardinal measure of utility by : Vittorioemanuele Ferrante
Download or read book On a very cardinal measure of utility written by Vittorioemanuele Ferrante and published by . This book was released on 1999 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Quality of Life Assessments in Clinical Trials by : Bert Spilker
Download or read book Quality of Life Assessments in Clinical Trials written by Bert Spilker and published by Raven Press (ID). This book was released on 1990 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt:
