Measuring Utility

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Measuring Utility

Author : Ivan Moscati
Publisher :
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 . This book was released on 2019 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.

Measuring Utility

Author : Ivan Moscati
Publisher : Oxford University Press
ISBN 13 : 0199372799
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 University Press. This book was released on 2018-10-25 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 : London : Macmillan ; New York : St. Martin's Press
ISBN 13 :
Total Pages : 168 pages
Book Rating : 4.:/5 (32 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 London : Macmillan ; New York : St. Martin's Press. This book was released on 1958 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Measuring Utility

Author : Ivan Moscati
Publisher :
ISBN 13 : 9780199372805
Total Pages : pages
Book Rating : 4.3/5 (728 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 . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This text reconstructs the history of utility measurement in economics, from the marginal revolution of the 1870s to the beginning of behavioral economics in the mid-1980s.

Direct and Indirect Methods for Measuring Utility

Author : Barbara Ann Heinrich
Publisher :
ISBN 13 :
Total Pages : 106 pages
Book Rating : 4.:/5 (197 download)

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Book Synopsis Direct and Indirect Methods for Measuring Utility by : Barbara Ann Heinrich

Download or read book Direct and Indirect Methods for Measuring Utility written by Barbara Ann Heinrich and published by . This book was released on 1971 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Using Conditional Utility Models for Measuring Welfare

Author : Robert O. Mendelsohn
Publisher :
ISBN 13 :
Total Pages : 4 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Using Conditional Utility Models for Measuring Welfare by : Robert O. Mendelsohn

Download or read book Using Conditional Utility Models for Measuring Welfare written by Robert O. Mendelsohn and published by . This book was released on 1994 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Measuring Utility

Author : Johannes Gerardus Conrad Verheij
Publisher :
ISBN 13 :
Total Pages : 130 pages
Book Rating : 4.:/5 (657 download)

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Book Synopsis Measuring Utility by : Johannes Gerardus Conrad Verheij

Download or read book Measuring Utility written by Johannes Gerardus Conrad Verheij and published by . This book was released on 1992 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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:

On Measuring Utility

Author : André Gabor
Publisher :
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4.:/5 (266 download)

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Book Synopsis On Measuring Utility by : André Gabor

Download or read book On Measuring Utility written by André Gabor and published by . This book was released on 1958 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Measuring Utility of Wealth Among Farm Managers

Author : Albert N. Halter
Publisher :
ISBN 13 :
Total Pages : 430 pages
Book Rating : 4.3/5 (129 download)

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Book Synopsis Measuring Utility of Wealth Among Farm Managers by : Albert N. Halter

Download or read book Measuring Utility of Wealth Among Farm Managers written by Albert N. Halter and published by . This book was released on 1956 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Measurement Theory: Volume 7

Author : Fred S. Roberts
Publisher : Cambridge University Press
ISBN 13 : 9780521102438
Total Pages : 0 pages
Book Rating : 4.1/5 (24 download)

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Book Synopsis Measurement Theory: Volume 7 by : Fred S. Roberts

Download or read book Measurement Theory: Volume 7 written by Fred S. Roberts and published by Cambridge University Press. This book was released on 2009-03-12 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an introduction to measurement theory for non-specialists and puts measurement in the social and behavioural sciences on a firm mathematical foundation. Results are applied to such topics as measurement of utility, psychophysical scaling and decision-making about pollution, energy, transportation and health. The results and questions presented should be of interest to both students and practising mathematicians since the author sets forth an area of mathematics unfamiliar to most mathematicians, but which has many potentially significant applications.

Final Report on Approaches to Measuring Electric Utility Performance

Author : Luc Anselin
Publisher :
ISBN 13 :
Total Pages : 126 pages
Book Rating : 4.3/5 (243 download)

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Book Synopsis Final Report on Approaches to Measuring Electric Utility Performance by : Luc Anselin

Download or read book Final Report on Approaches to Measuring Electric Utility Performance written by Luc Anselin and published by . This book was released on 1981 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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.

The Measurement of Environmental and Resource Values

Author : A. Myrick Freeman
Publisher : Resources for the Future
ISBN 13 : 9781891853623
Total Pages : 516 pages
Book Rating : 4.8/5 (536 download)

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Book Synopsis The Measurement of Environmental and Resource Values by : A. Myrick Freeman

Download or read book The Measurement of Environmental and Resource Values written by A. Myrick Freeman and published by Resources for the Future. This book was released on 2003 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: Non-market valuation is becoming increasingly accepted as an evaluative tool of economics related to environmental and resource protection. Freeman (economics, Bowdoin College) presents an overview of the literature, introducing the principal methods and techniques of resource valuation. Chapters cover the measurement of welfare changes, revealed and stated preference models, nonuse models, aggregation of values across time, environmental quality as factor input, longevity and health valuation, property value models, hedonic wage models, and recreational uses of natural resource systems. Annotation (c)2003 Book News, Inc., Portland, OR (booknews.com).

Utility measurement

Author : Michael H. Birnbaum
Publisher :
ISBN 13 :
Total Pages : 262 pages
Book Rating : 4.:/5 (165 download)

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Book Synopsis Utility measurement by : Michael H. Birnbaum

Download or read book Utility measurement written by Michael H. Birnbaum and published by . This book was released on 1992 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Measuring Utility by a Single-response Sequential Method

Author : Gordon M. Becker
Publisher :
ISBN 13 :
Total Pages : 19 pages
Book Rating : 4.:/5 (227 download)

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Book Synopsis Measuring Utility by a Single-response Sequential Method by : Gordon M. Becker

Download or read book Measuring Utility by a Single-response Sequential Method written by Gordon M. Becker and published by . This book was released on 1963 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: A sequential experiment is described that pro vides, at each stage in the sequence, an esti mate of the utility to the subject of some amount of a commodity (e.g., money), and to present a few experimental results obtained with the method. The procedure is based upon the following well-known expected utility hypothesis. For each person there exist numerical constants, called utilities, associated with the various possible outcomes of his actions, given external events not under his control. If, for a given subject, we could know the values of these con stants and the (''personal'') probabilities he assigns to the various external events we can, according to this model, predict his choice from among any available set of actions: He will choose an action with the highest expected utility; i.e., with the highest average of utilities of outcomes, weighted by the proba bilities he assigns to the corresponding events. He will be indifferent between any two actions with equal expected utilities. Note that (by the nature of weighted averages) the comparison between expected utilities does not depend on which two particular outcomes are regarded as having zero-utility and unit-utility. (Author).

Thinking and Deciding

Author : Jonathan Baron
Publisher : Cambridge University Press
ISBN 13 : 1009263625
Total Pages : 549 pages
Book Rating : 4.0/5 (92 download)

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Book Synopsis Thinking and Deciding by : Jonathan Baron

Download or read book Thinking and Deciding written by Jonathan Baron and published by Cambridge University Press. This book was released on 2023-07-31 with total page 549 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fifth edition of the classic text Thinking and Deciding updates the broad overview of the field of judgments and decisions offered in previous editions. It covers the normative standards used to evaluate conclusions, such as logic, probability, and various forms of utility theory. It explains descriptive accounts of departures from these standards, largely in terms of principles of cognitive psychology, emphasizing the distinction between search processes and inferences. Chapters cover decisions under risk, decision analysis, moral decisions and social dilemmas, and decisions about the future. Although the book assumes no particular prerequisites beyond introductory high-school algebra, it is most suited to advanced undergraduates, early graduate students, and active researchers in related fields, such as business, politics, law, medicine, economics, and philosophy.