Showing 1 - 10 of 1,130
In most economics textbooks there is a gap between the non-existence of utility functions and the existence of … continuous utility functions, although upper semi-continuity is sufficient for many purposes. Starting from a simple constructive … the existence of upper semi-continuous utility functions on a wide class of domains. Although links between utility theory …
Persistent link: https://www.econbiz.de/10010281322
-dimensional decision outcomes, economic theory assumes a uni-dimensional utility measure. This paper reviews evidence from behavioral and …Although decision makers are often reported to have difficulties in making comparisons between multi … brain sciences to assess whether, and for what reasons, this assumption may be warranted. It is claimed that the decision …
Persistent link: https://www.econbiz.de/10010286755
We provide characterizations of preferences representable by a Cobb-Douglas utility function. …
Persistent link: https://www.econbiz.de/10010281260
Models of labor supply derived from stochastic utility representations and discretized sets of feasible hours of work …
Persistent link: https://www.econbiz.de/10010280822
In economic theory, utility depends on past, present and future outcomes. The experiment described in this paper … suggests that utility also depends on people's attitudes, and that it can easily be manipulated through these attitudes. The … results imply, first, that purely outcome-based models of individual utility may be incomplete. Second, that reference …
Persistent link: https://www.econbiz.de/10010263885
The concept of utility is often used in ambiguous ways in economics, from having substantive psychological connotations … conceive of utility. It turns out that empirical evidence does not favor a view of multidimensional utility. This does not … eliminate the possibility to make a normative argument supporting a multidimensional notion of utility. …
Persistent link: https://www.econbiz.de/10010267093
Persistent link: https://www.econbiz.de/10011696497
"spatial value number" reveals the incompatibility of rationality and aesthetics: the individual urban experience cannot be …
Persistent link: https://www.econbiz.de/10013479445
just obeying and, hence, to be irrational. In this paper we offer a different approach which postulates rationality of all …
Persistent link: https://www.econbiz.de/10011753167
This paper provides a theoretical analysis regarding the rationality of suicide attacks from an economist’s point of … view. It is argued that although a terrorist gives up future utility from consumption by committing a suicide attack, this … loss can be overcompensated by the utility he derives from the attack. Some individual cases of suicide bombers are …
Persistent link: https://www.econbiz.de/10011753170