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Measuring Utility: From the Marginal Revolution to Behavioral Economics - Couverture rigide

Moscati, Ivan

 
9780199372768: Measuring Utility: From the Marginal Revolution to Behavioral Economics
Couverture rigide
ISBN 10 : 0199372764 ISBN 13 : 9780199372768
Editeur : Oxford University Press Inc, 2018

Synopsis

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.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

À propos de l'auteur

Ivan Moscati is Associate Professor of Economics at the University of Insubria, Varese, and teaches History of Economics at Bocconi University, Milan. His articles have been published in a range of journals in economics, history of economic thought, and economic methodology, and one of them was awarded the Best Article Award of the History of Economics Society.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
Oxford University Press Inc
Date d'édition
2018
Langue
anglais
ISBN 10 
0199372764
ISBN 13 
9780199372768
Reliure
Relié
Nombre de pages
340
Coordonnées du fabricant
non disponible
Personne responsable
Ufficio Anagrafiche Messaggerie
ufficio.anagrafiche@meli.it

Via Verdi, 8
Assago Milano
20090
Italie

Autres éditions populaires du même titre

9780199372775: Measuring Utility: From the Marginal Revolution to Behavioral Economics (Oxford Studies in History of Economics)

Edition présentée

ISBN 10 :  0199372772 ISBN 13 :  9780199372775
Editeur : Oxford University Press, 2018
Couverture souple