institutional aspects that informed the discussions leading to the definition of the current notion of cardinal utility as utility … unique up to positive linear transformations. As originally this type of utility was not called “cardinal”, the paper also …. In opposition to existing narratives, the paper shows that cardinal utility entered economic analysis between 1909 and …

institutional aspects that informed the discussions leading to the definition of the current notion of cardinal utility as utility … unique up to positive linear transformations. As originally this type of utility was not called "cardinal", the paper also …. In opposition to existing narratives, the paper shows that cardinal utility entered economic analysis between 1909 and …

suitable subset of X^N. I characterize when > has a Cesàro average utility representation. This means that there is a … higher limit, as n goes to infinity, of the average utility over the first n terms in the sequence. This has applications to …

an ordinal one, when defining suitable approximations to expected utility values. Contrary to the standard literature … directly from the disconnectedness of the range of the utility functions. Conditions for the existence of minimal errors are … evaluation for two or more different prospects with the same expected utility value. As a consequence, a rational decision maker …

The assumption that utility is always maximized allows often surprising inferences about the nature of the desires that … rests on the shaky foundation of an implausible and untestable assumption. In this paper we discuss a version of the utility …

This paper examines the effects of alternative assumptions regarding the curvature of utility upon estimated discount … the Holt and Laury method for risk. The results demonstrate that utility elicited directly from choice over time is … significantly concave, but far closer to linear than utility elicited under risk. As a result, the effect of adjusting discount …

symmetry if the latter is generated by a field. Moreover, solving the PDEs yields the functional form for utility equivalent to …, multivariate separability, and homogeneity, including the cases of Cobb-Douglas and CES utility. …

Varian (1988) showed that the utility maximization hypothesis cannot be falsified when only a subset of goods is … and sufficient condition for utility maximization in general, not just in the lab. Lab experiments are therefore a valid … tool to put the utility maximization hypothesis to the test. …

We characterize optimal consumption policies in a recursive intertemporal utility framework with local substitution. We …

[enter Abstract Body]Utility theory is a pivotal concept in economics which provides insights into how an individual is … being and an individual derives utility from the consumption of goods and services under given budget constraints. This … article explores these fundamental assumptions and introduces a new theoretical framework for deriving utility, which is …