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Measuring Utility.

Author: Ivan Moscati
Publisher: OUP USA, 2018
Edition/Format:   Print book : English

Since the marginal revolution of the 1870s, the economic theory of decision-making has been based on the notion of utility. Utility, however, is not measurable. This book reconstructs economists'  Read more...


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Document Type: Book
All Authors / Contributors: Ivan Moscati
ISBN: 9780199372768 0199372764
OCLC Number: 1078779259
Description: 352s.
Contents: IntroductionPART I: Utility Measurement in Early Utility Theories, 1870-19101. When Unit-Based Measurement Ruled the World: An Interdisciplinary Overview, 1870-19102. Is There a Unit of Utility? : Jevons, Menger, and Walras on the Measurability of Utility, 1870-19103. Still on the Quest for a Unit: Utility Measurement in Wieser, Boehm-Bawerk, Edgeworth, Fisher, and Marshall, 1880-1910PART II: Ordinal and Cardinal Utility, and Early Empirical Measurements of Utility, 1900-19454. Fundamental Measurement, Sensation Differences, and the British Controversy on Psychological Measurement, 1910-19405. Ordinal Utility: Pareto and the Austrians, 1900-19156. Cardinal Utility: How It Entered Economic Analysis from Pareto to Samuelson, 1915-19457. Going Empirical: The Econometric and Experimental Approaches to Utility Measurement of Frisch and Thurstone, 1925-1945PART III: From Debating Expected Utility Theory to Re-Defining Utility Measurement, 1945-19558. Stevens and the Operational Definition of Measurement in Psychology, 1935-19509. The Expected Utility Theory and Measurement Theory of von Neumann and Morgenstern, 1944-194710. What Is That Function?: Friedman, Savage, Marschak, Samuelson, and Baumol on EUT, 1947-195011. From Chicago to Paris: The Debate Continues, 1950-195212. Conventions, Operations, Predictions: Re-Defining Utility Measurement, 1952-1955PART IV: Expected Utility Theory and Experimental Utility Measurement, 1950-198513. Experimental Utility Measurement: The Age of Confidence I, 1950-196014. Marschak and Utility Measurement at Yale: The Age of Confidence II, 1960-196515. From Utility Measurement to the Representational Theory of Measurement: The Case of Suppes, 1950-197016. Measuring Utility, Destabilizing EUT: Behavioral Economics Begins, 1965-1985EpilogueAcknowledgmentsReferencesIndex


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[Measuring Unity] should be read by any researcher making use of the concept of utility in their work, but I think it has a much broader appeal. I cannot think of another work in behavioral economics Read more...

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