Measuring Utility: From the Marginal Revolution to Behavioral Economics 1st Edition Ivan Moscati

Measuring Utility: From the Marginal Revolution to Behavioral Economics – Ebook Instant Download/Delivery ISBN(s): 9780199372775,0199372772

Product details:

• ISBN-10 ‏ : ‎ 0199372772
• ISBN-13 ‏ : ‎ 978-0199372775
• Author(s): Ivan Moscati

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.

Table contents:

Part One: Utility Measurement in Early Utility Theories, 1870-​1910

Part Two: Ordinal and Cardinal Utility and Early Empirical Measurements of Utility, 1900-​1945

Part Three: From Debating Expected Utility Theory to Redefining Utility Measurement, 1945-​1955

Part Four: Expected Utility Theory and Experimental Utility Measurement, 1950-​1985

References;

Name Index;

Subject Index

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