Jump to ContentJump to Main Navigation

You are looking at 1-20 of 48 items

  • Keywords: utility functions x
Clear All Modify Search

View:

Expanding and Reorienting the Scope of Economic Thinking

James Halteman and Edd Noell

in Reckoning with Markets: The Role of Moral Reflection in Economics

Published in print:
2012
Published Online:
May 2012
ISBN:
9780199763702
eISBN:
9780199932252
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199763702.003.0008
Subject:
Economics and Finance, Financial Economics

This chapter traces efforts to expand the approach of economic thinking to political, legal, social, and religious institutions. Using rational choice analysis, these efforts move the discussion ... More


Annuity demand theory

Edmund Cannon and Ian Tonks

in Annuity Markets

Published in print:
2008
Published Online:
January 2009
ISBN:
9780199216994
eISBN:
9780191711978
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199216994.003.0007
Subject:
Business and Management, Pensions and Pension Management

This chapter discusses Yaari's (19665) annuitization result, which states that a risk-averse individual concerned about longevity risk (uncertain length of life) will always purchase actuarially-fair ... More


Subjective Probabilities Inferred from Decisions

Jie W Weiss and David J Weiss

in A Science of Decision Making: The Legacy of Ward Edwards

Published in print:
2008
Published Online:
January 2009
ISBN:
9780195322989
eISBN:
9780199869206
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195322989.003.0005
Subject:
Psychology, Cognitive Psychology

This chapter shows that if the subjective probabilities of a set of events of which one must happen and not more than one can happen must add up to a specified constant (usually taken as one for ... More


Epilogue

Bernard Van Praag

in Happiness Quantified: A Satisfaction Calculus Approach

Published in print:
2007
Published Online:
May 2008
ISBN:
9780199226146
eISBN:
9780191718595
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199226146.003.0017
Subject:
Economics and Finance, Behavioural Economics

This chapter synthesizes the findings presented in the book. It highlights the success in developing a methodology that can analyse satisfaction along the lines similar to those used by ... More


On a Class of Preference Fields

W. M. Gorman

C. Blackorby and A. F. Shorrocks (eds)

in Separability and Aggregation: The Collected Works of W. M. Gorman, Volume I

Published in print:
1996
Published Online:
November 2003
ISBN:
9780198285212
eISBN:
9780191596322
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198285213.003.0017
Subject:
Economics and Finance, Microeconomics

This short note, published in Metroeconomica 13 (1961), begins with the assumption that the preferences of the consumer exhibit linear Engel curves, which were shown in ’Community preference fields’ ... More


Utility Hypothesis

S. N. Afriat

in Logic of Choice and Economic Theory

Published in print:
1987
Published Online:
November 2003
ISBN:
9780198284611
eISBN:
9780191595844
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198284616.003.0007
Subject:
Economics and Finance, Microeconomics

This is the first of six chapters in Part II about demand and utility cost, a typical area for what is understood as choice theory. It discusses utility hypothesis and the theory of value. Its five ... More


Pricing New Products: Strategies and Caveats

Sharan Jagpal

in Fusion for Profit: How Marketing and Finance Can Work Together to Create Value

Published in print:
2008
Published Online:
September 2008
ISBN:
9780195371055
eISBN:
9780199870745
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195371055.003.0006
Subject:
Business and Management, Marketing

This chapter shows how firms should price new products, especially under cost and demand uncertainty. It distinguishes between privately and publicly owned firms and show how the risk attitudes of ... More


Consumer Budgets and Price Indices

W. M. Gorman

C. Blackorby and A. F. Shorrocks (eds)

in Separability and Aggregation: The Collected Works of W. M. Gorman, Volume I

Published in print:
1996
Published Online:
November 2003
ISBN:
9780198285212
eISBN:
9780191596322
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198285213.003.0005
Subject:
Economics and Finance, Microeconomics

This is the most ambitious of the papers in Part I of the book that are explicitly concerned with budgeting; it is from an unpublished typescript dated 1965. Here, Gorman discards the previously ... More


Dynamic Utility Functions Proposed

Michio Morishima

in Theory of Economic Growth

Published in print:
1969
Published Online:
November 2003
ISBN:
9780198281641
eISBN:
9780191596667
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198281641.003.0012
Subject:
Economics and Finance, Development, Growth, and Environmental

Various dynamic utility functions are proposed for optimum economic growth. The different sections of the chapter discuss: maximization of satisfaction over time; whether dynamic utility should be ... More


Algebra of Revealed Preference

S. N. Afriat

in Logic of Choice and Economic Theory

Published in print:
1987
Published Online:
November 2003
ISBN:
9780198284611
eISBN:
9780191595844
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198284616.003.0008
Subject:
Economics and Finance, Microeconomics

This is the second of six chapters in Part II about demand and utility cost, a typical area for what is understood as choice theory. It discusses the algebra of revealed preference. Its seven ... More


Separable Utility and Aggregation

W. M. Gorman

C. Blackorby and A. F. Shorrocks (eds)

in Separability and Aggregation: The Collected Works of W. M. Gorman, Volume I

Published in print:
1996
Published Online:
November 2003
ISBN:
9780198285212
eISBN:
9780191596322
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198285213.003.0003
Subject:
Economics and Finance, Microeconomics

Separability is a maintained hypothesis throughout this paper, which was published in Econometrica 27 (1959). Hence, the results of the previous paper are applicable: that is, it begins with the ... More


Alternative Decision Criteria

Christian Gollier

in Pricing the Planet's Future: The Economics of Discounting in an Uncertain World

Published in print:
2012
Published Online:
October 2017
ISBN:
9780691148762
eISBN:
9781400845408
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691148762.003.0011
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter describes a sample of the alternative decision criteria that have features which are normatively attractive. A standard critique made to the discounted expected utility (DEU) model that ... More


Well-Being and Interpersonal Comparisons

Matthew D. Adler

in Well-Being and Fair Distribution: Beyond Cost-Benefit Analysis

Published in print:
2011
Published Online:
January 2012
ISBN:
9780195384994
eISBN:
9780199918348
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195384994.003.0004
Subject:
Law, Philosophy of Law, Constitutional and Administrative Law

Drawing from the philosophical literature, this chapter offers an analysis of well-being in terms of fully informed, fully rational, extended preferences. This account is preferentialist, but it does ... More


Samuelson's “Dr. Jekyll and Mrs. Jekyll” Problem: A Difficulty in the Concept of the Consumer

Robert A. Pollak

in Samuelsonian Economics and the Twenty-First Century

Published in print:
2006
Published Online:
January 2009
ISBN:
9780199298839
eISBN:
9780191711480
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199298839.003.0008
Subject:
Economics and Finance, History of Economic Thought

This chapter describes a rich number of cases in which Samuelson distinguishes between the individual and the family as the consuming agent. The idea that the family demand function can be consistent ... More


The Concavity of Additive Utility Functions

W. M. Gorman

C. Blackorby and A. F. Shorrocks (eds)

in Separability and Aggregation: The Collected Works of W. M. Gorman, Volume I

Published in print:
1996
Published Online:
November 2003
ISBN:
9780198285212
eISBN:
9780191596322
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198285213.003.0009
Subject:
Economics and Finance, Microeconomics

This paper is from an unpublished typescript from the University of North Carolina (1970). When confronted with additivity, it is far more convenient to use profit functions than cost functions or ... More


On two Points of View Regarding revealed Preference and behavioral Economics

RAN SPIEGLER

in The Foundations of Positive and Normative Economics: A Hand Book

Published in print:
2008
Published Online:
October 2011
ISBN:
9780195328318
eISBN:
9780199851768
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195328318.003.0004
Subject:
Economics and Finance, Economic History

Certain methodological debates regarding behavioral economics seem to involve, more often than not, the notion of revealed preferences. As part of philosophical tradition, the principle of revealed ... More


Equity and Sharing the Cost of a Public Project *

Rajat Deb, Indranil K. Ghosh, and Tae Kun Seo

in Arguments for a Better World: Essays in Honor of Amartya Sen: Volume I: Ethics, Welfare, and Measurement

Published in print:
2008
Published Online:
May 2009
ISBN:
9780199239115
eISBN:
9780191716935
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199239115.003.0028
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter explores the cost sharing implications of a number of alternative theories of justice. It looks at a two-person economy in which the individuals have quasi-linear utility functions and ... More


The Structure of Utility Functions

W. M. Gorman

C. Blackorby and A. F. Shorrocks (eds)

in Separability and Aggregation: The Collected Works of W. M. Gorman, Volume I

Published in print:
1996
Published Online:
November 2003
ISBN:
9780198285212
eISBN:
9780191596322
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198285213.003.0012
Subject:
Economics and Finance, Microeconomics

The central result of this paper, which was published in the Review of Economic Studies 35 (1968), is the overlapping theorem, which is developed in Sect. 2 of the paper. A special‐case example given ... More


Conditions for Generalized Additive Separability

W. M. Gorman

C. Blackorby and A. F. Shorrocks (eds)

in Separability and Aggregation: The Collected Works of W. M. Gorman, Volume I

Published in print:
1996
Published Online:
November 2003
ISBN:
9780198285212
eISBN:
9780191596322
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198285213.003.0013
Subject:
Economics and Finance, Microeconomics

This paper is from an unpublished typescript (1970) and is a straightforward elaboration of a referee report on a paper by Robert Pollak that was eventually published in Econometrica (1972). In the ... More


Consumer Choice and Demand

John P. Burkett

in Microeconomics: Optimization, Experiments, and Behavior

Published in print:
2006
Published Online:
October 2011
ISBN:
9780195189629
eISBN:
9780199850778
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195189629.003.0009
Subject:
Economics and Finance, Microeconomics

This chapter discusses microeconomic theories of consumer choice and demand. It explains that a consumer's preferences can be represented by a utility function or by a preference map and that ... More


View: