Utility Maximization Choice And Preference
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Utility Maximization, Choice and Preference
Author: Fuad Aleskerov
language: en
Publisher: Springer Science & Business Media
Release Date: 2013-04-18
A classically rational subject is a maximiser: he chooses the best alternative(s) according to some utility function, a paradigm going back to the eighteenth century. One of the ways to overcome its well-known deficiences is to extend it to take into account insenitivity threshold as well as the context of choice. This book gives a systematic overview on the extended utility maximisation theory covering the classic theory, the theory of utility maximisation within a context-free or context-dependent threshold, and the related preference and choice models. The presented models will be helpful to specialists in economics, decision making theory, social choice theory, behavioral and cognitive sciences, and related fields.
Utility Maximization, Choice and Preference
Author: Fuad Aleskerov
language: en
Publisher: Springer Science & Business Media
Release Date: 2007-08-09
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.
Revealed Preference Theory
Author: Christopher P. Chambers
language: en
Publisher: Cambridge University Press
Release Date: 2016-01-05
The theory of revealed preference has a long, distinguished tradition in economics but lacked a systematic presentation of the theory until now. This book deals with basic questions in economic theory and studies situations in which empirical observations are consistent or inconsistent with some of the best known economic theories.