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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
-dimensional decision outcomes, economic theory assumes a uni-dimensional utility measure. This paper reviews evidence from behavioral and … makers' difficulties can be explained once the motivational aspects of utility (wanting) are disentangled from the …
Persistent link: https://www.econbiz.de/10010286755
accident. Capitalism, we argue, is not a mode of production but a mode of power, and every mode of power evolves together with … absolute, it is relative. It has little to do with utility or abstract labour, and it extends far beyond machines and … production lines. Most broadly, it represents the organized power of dominant capital groups to create the order of – or creorder …
Persistent link: https://www.econbiz.de/10011644571
entity, but a symbolic quantification of power. Capital has little to do with utility or abstract labor, and it extends far … beyond machines and production lines. Most broadly, it represents the organized power of dominant capital groups to reshape …
Persistent link: https://www.econbiz.de/10011644933
Dieser Beitrag untersucht anhand eines mikroökonomischen Formalmodells, weshalb Mitarbeiter aus individuell rationalen Gründen bei Change-Management-Projekten ihr berufliches Anstrengungsniveau reduzieren und weshalb sie vermehrt zu anderen Arbeitgebern wechseln. Das Modell wird so...
Persistent link: https://www.econbiz.de/10011733810
A political economy approach to explaining the existence of different human resource strategies is developed in this article - in short: a political personnel economy. The starting point is a critical analysis of the abstinence of politics and power and the resulting explanation deficiencies of...
Persistent link: https://www.econbiz.de/10010318139
In some recent papers, such as Elliott & van der Hoek, Hu & Öksendal, a fractional Black-Scholes model have been proposed as an improvement of the classical Black-Scholes model. Common to these fractional Black-Scholes models, is that the driving Brownian motion is replaced by a fractional...
Persistent link: https://www.econbiz.de/10010281205
The outcome of the economic performance of individuals is utilised in the form of consumption and consequent welfare …. Despite this truism, there is relatively little information available on household consumption behaviour in Hungary stemming … then show how this framework can be used to quantify the effects of price changes and to calculate household consumption …
Persistent link: https://www.econbiz.de/10010494363