The Measurement Of Utility

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Measuring Utility

Author : Ivan Moscati
Publisher : Oxford Studies in History of E
ISBN 13 : 0199372764
Total Pages : 345 pages
Book Rating : 4.1/5 (993 download)

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Book Synopsis Measuring Utility by : Ivan Moscati

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.

The Measurement of Utility

Author : Tapas Majumdar
Publisher :
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.3/5 (2 download)

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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:

Measuring Utility

Author : Ivan Moscati
Publisher : Oxford University Press
ISBN 13 : 0199372799
Total Pages : 352 pages
Book Rating : 4.1/5 (993 download)

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Book Synopsis Measuring Utility by : Ivan Moscati

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.

Utility of Gains and Losses

Author : R. Duncan Luce
Publisher : Psychology Press
ISBN 13 : 1135662703
Total Pages : 371 pages
Book Rating : 4.1/5 (356 download)

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Book Synopsis Utility of Gains and Losses by : R. Duncan Luce

Download or read book Utility of Gains and Losses written by R. Duncan Luce and published by Psychology Press. This book was released on 2014-04-04 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new monograph presents Dr. Luce's current understanding of the behavioral properties people exhibit (or should exhibit) when they make selections among alternatives and how these properties lead to numerical representations of those preferences. It summarizes, and places in historical perspective, the research Dr. Luce has done on utility theory for over 10 years. Included are axiomatic theoretical formulations, experiments designed to test individual assumptions, and analyses of the fit to bodies of data of numerical representations derived from the theory.

Utility Theories: Measurements and Applications

Author : Ward Edwards
Publisher : Springer Science & Business Media
ISBN 13 : 9401129525
Total Pages : 304 pages
Book Rating : 4.4/5 (11 download)

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Book Synopsis Utility Theories: Measurements and Applications by : Ward Edwards

Download or read book Utility Theories: Measurements and Applications written by Ward Edwards and published by Springer Science & Business Media. This book was released on 2013-12-01 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Conference on "Utility: Theories, Measurements, and Applications" met at the Inn at Pasatiempo in Santa Cruz, California, from June II to 15, 1989. The all-star cast of attendees are listed as authors in the Table of Contents of this book (see p. V), except for Soo Hong Chew and Amos Tversky. The purpose of the conference, and of National Science Foundation Grant No. SES-8823012 that supported it, was to confront proponents of new generalized theories of utility with leading decision analysts com mitted to the implementation, in practice, of the more traditional theory that these new theories reject. That traditional model is variously iden tified in this book as expected utility or subjectively expected utility maximization (EU or SEU for short) and variously attributed to von Neumann and Morgenstern or Savage. I had feared that the conference might consist of an acrimonious debate between Olympian normative theorists uninterested in what people actually do and behavioral modelers obsessed with the cognitive illusions and uninterested in helping people to make wise decisions. I was entirely wrong. The conferees, in two dramatic straw votes at the open ing session, unanimously endorsed traditional SEU as the appropriate normative model and unanimously agreed that people don't act as that model requires. (These votes had a profound impact on my thinking; detail about them and about that impact is located in Chapter 10.

The Oxford Handbook of Health Economics

Author : Sherry Glied
Publisher : OUP Oxford
ISBN 13 : 0191667161
Total Pages : 992 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis The Oxford Handbook of Health Economics by : Sherry Glied

Download or read book The Oxford Handbook of Health Economics written by Sherry Glied and published by OUP Oxford. This book was released on 2013-05-23 with total page 992 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Health Economics provides an accessible and authoritative guide to health economics, intended for scholars and students in the field, as well as those in adjacent disciplines including health policy and clinical medicine. The chapters stress the direct impact of health economics reasoning on policy and practice, offering readers an introduction to the potential reach of the discipline. Contributions come from internationally-recognized leaders in health economics and reflect the worldwide reach of the discipline. Authoritative, but non-technical, the chapters place great emphasis on the connections between theory and policy-making, and develop the contributions of health economics to problems arising in a variety of institutional contexts, from primary care to the operations of health insurers. The volume addresses policy concerns relevant to health systems in both developed and developing countries. It takes a broad perspective, with relevance to systems with single or multi-payer health insurance arrangements, and to those relying predominantly on user charges; contributions are also included that focus both on medical care and on non-medical factors that affect health. Each chapter provides a succinct summary of the current state of economic thinking in a given area, as well as the author's unique perspective on issues that remain open to debate. The volume presents a view of health economics as a vibrant and continually advancing field, highlighting ongoing challenges and pointing to new directions for further progress.

History of Marginal Utility Theory

Author : Emil Kauder
Publisher : Princeton University Press
ISBN 13 : 1400877741
Total Pages : 271 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis History of Marginal Utility Theory by : Emil Kauder

Download or read book History of Marginal Utility Theory written by Emil Kauder and published by Princeton University Press. This book was released on 2015-12-08 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author blends historical narrative with a topical approach and discusses such aspects of the theory as measurement, total value, and imputation. Originally published in 1965. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Microeconomics For Dummies

Author : Lynne Pepall
Publisher : John Wiley & Sons
ISBN 13 : 1119184401
Total Pages : 353 pages
Book Rating : 4.1/5 (191 download)

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Book Synopsis Microeconomics For Dummies by : Lynne Pepall

Download or read book Microeconomics For Dummies written by Lynne Pepall and published by John Wiley & Sons. This book was released on 2016-01-14 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: Your no-nonsense guide to microeconomics The study of microeconomics isn't for the faint of heart. Fortunately, Microeconomics For Dummies is here to help make this tough topic accessible to the masses. If you're a business or finance major looking to supplement your college-level microeconomics coursework—or a professional who wants to expand your general economics knowledge into the microeconomics area—this friendly and authoritative guide will take your comprehension of the subject from micro to macro in no time! Cutting through confusing jargon and complemented with tons of step-by-step instructions and explanations, it helps you discover how real individuals and businesses use microeconomics to analyze trends from the bottom up in order to make smart decisions. Snagging a job as an economist is fiercely competitive—and highly lucrative. Having microeconomics under your belt as you work toward completing your degree will put you head and shoulders above the competition and set you on the course for career advancement once you land a job. So what are you waiting for? Analyze small-scale market mechanisms Determine the elasticity of products within the market systems Decide upon an efficient way to allocate goods and services Score higher in your microeconomics class Everything you need to make microeconomics your minion is a page away!

New Methods of Measuring Marginal Utility

Author : Ragnar Frisch
Publisher :
ISBN 13 :
Total Pages : 160 pages
Book Rating : 4.X/5 ( download)

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Book Synopsis New Methods of Measuring Marginal Utility by : Ragnar Frisch

Download or read book New Methods of Measuring Marginal Utility written by Ragnar Frisch and published by . This book was released on 1978 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Utility Maximization, Choice and Preference

Author : Fuad Aleskerov
Publisher : Springer Science & Business Media
ISBN 13 : 3662049929
Total Pages : 226 pages
Book Rating : 4.6/5 (62 download)

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Book Synopsis Utility Maximization, Choice and Preference by : Fuad Aleskerov

Download or read book Utility Maximization, Choice and Preference written by Fuad Aleskerov and published by Springer Science & Business Media. This book was released on 2013-04-18 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: The utility maximization paradigm forms the basis of many economic, psychological, cognitive and behavioral models. However, numerous examples have revealed the deficiencies of the concept. This book helps to overcome those deficiencies by taking into account insensitivity of measurement threshold and context of choice. The second edition has been updated to include the most recent developments and a new chapter on classic and new results for infinite sets.

Measuring and Valuing Health Benefits for Economic Evaluation

Author : John Brazier
Publisher : Oxford University Press
ISBN 13 : 0198725922
Total Pages : 373 pages
Book Rating : 4.1/5 (987 download)

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Book Synopsis Measuring and Valuing Health Benefits for Economic Evaluation by : John Brazier

Download or read book Measuring and Valuing Health Benefits for Economic Evaluation written by John Brazier and published by Oxford University Press. This book was released on 2017 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are not enough resources in health care systems around the world to fund all technically feasible and potentially beneficial health care interventions. Difficult choices have to be made, and economic evaluation offers a systematic and transparent process for informing such choices. A key component of economic evaluation is how to value the benefits of health care in a way that permits comparison between health care interventions, such as through costs per quality-adjusted life years (QALY). Measuring and Valuing Health Benefits for Economic Evaluation examines the measurement and valuation of health benefits, reviews the explosion of theoretical and empirical work in the field, and explores an area of research that continues to be a major source of debate. It addresses the key questions in the field including: the definition of health, the techniques of valuation, who should provide the values, techniques for modelling health state values, the appropriateness of tools in children and vulnerable groups, cross cultural issues, and the problem of choosing the right instrument. This new edition contains updated empirical examples and practical applications, which help to clarify the readers understanding of real world contexts. It features a glossary containing the common terms used by practitioners, and has been updated to cover new measures of health and wellbeing, such as ICECAP, ASCOT and AQOL. It takes into account new research into the social weighting of a QALY, the rising use of ordinal valuation techniques, use of the internet to collect data, and the use of health state utility values in cost effectiveness models. This is an ideal resource for anyone wishing to gain a specialised understanding of health benefit measurement in economic evaluation, especially those working in the fields of health economics, public sector economics, pharmacoeconomics, health services research, public health, and quality of life research.

Decision Aids for Selection Problems

Author : David L. Olson
Publisher : Springer Science & Business Media
ISBN 13 : 1461239826
Total Pages : 206 pages
Book Rating : 4.4/5 (612 download)

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Book Synopsis Decision Aids for Selection Problems by : David L. Olson

Download or read book Decision Aids for Selection Problems written by David L. Olson and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most important tasks faced by decision-makers in business and government is that of selection. Selection problems are challenging in that they require the balancing of multiple, often conflicting, criteria. In recent years, a number of interesting decision aids have become available to assist in such decisions. The aim of this book is to provide a comparative survey of many of the decision aids currently available. The first chapters present general ideas which underpin the methodologies used to design these aids. Subsequent chapters then focus on specific decision aids and demonstrate some of the software which implement these ideas. A final chapter provides a comparative analysis of their strengths and weaknesses.

An Interdisciplinary Approach to the Measurement of Utility Or Welfare

Author : Jan Tinbergen
Publisher :
ISBN 13 : 9780901809650
Total Pages : 27 pages
Book Rating : 4.8/5 (96 download)

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Book Synopsis An Interdisciplinary Approach to the Measurement of Utility Or Welfare by : Jan Tinbergen

Download or read book An Interdisciplinary Approach to the Measurement of Utility Or Welfare written by Jan Tinbergen and published by . This book was released on 1972 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Intermediate Microeconomics

Author : Patrick M. Emerson
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (123 download)

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Book Synopsis Intermediate Microeconomics by : Patrick M. Emerson

Download or read book Intermediate Microeconomics written by Patrick M. Emerson and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Frisch on the Measurement of Utility

Author : Henry Schultz
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (716 download)

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Book Synopsis Frisch on the Measurement of Utility by : Henry Schultz

Download or read book Frisch on the Measurement of Utility written by Henry Schultz and published by . This book was released on 1933 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Valuing Health

Author : Daniel M. Hausman
Publisher : Oxford University Press, USA
ISBN 13 : 0190233184
Total Pages : 289 pages
Book Rating : 4.1/5 (92 download)

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Book Synopsis Valuing Health by : Daniel M. Hausman

Download or read book Valuing Health written by Daniel M. Hausman and published by Oxford University Press, USA. This book was released on 2015 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Valuing Health provides a philosophically sophisticated overview of generic health measurement systems, which clarifies their value commitments and criticizes their dependence on preference surveys to assign values to health states. In it, philosopher Daniel M. Hausman argues that the public value of health states depends on the activity limits and suffering that health states impose.

The Direct Measurement of Cardinal Utility

Author : M. G. Benthall
Publisher :
ISBN 13 : 9781984590176
Total Pages : 0 pages
Book Rating : 4.5/5 (91 download)

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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 . This book was released on 2019 with total page 0 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.