prices can be measured through the context of the indirect utility function (IUF) using a lab experiment. First, the paper … in the mainstream of experimental economics. Indeed, the DT in modern microeconomics indicates that the direct utility … experiment using a series of relevant statistical tests. This study uses the multiple price list (MPL) method, which has been one …

Varian (1988) showed that the utility maximization hypothesis cannot be falsified when only a subset of goods is … the experiment. Hence for so-called induced budget experiments the Generalized Axiom of Revealed Preference is a necessary … and sufficient condition for utility maximization in general, not just in the lab. Lab experiments are therefore a valid …

paradox aim at small probabilities being perceived as zero and the boundedness of utility of the outcome. This paper provides … experimental results showing that neither diminishing marginal utility of the outcome nor perception of small probabilities can …

the current level of consumption. The kinks in the curves imply that the utility function is not differentiable everywhere …

Using a homogeneous and continuous utility function that represents a household's preferences, this paper proves … explicit identities between most of the different objects that arise from the utility maximization and the expenditure … to go from the indirect utility function to the expenditure function and from the Marshallian demand to the Hicksian …

This paper uses the notion of augmented utility to summarize models of utility maximization (MUM). The models covered … include non-separable utility maximization and common behavioral models of discounting. Moreover, the paper provides as novel …

We reexamine some of the classic problems connected with the use of cardinal utility functions in decision theory, and … analytically decompose the doctrine of ordinalism, which only accepts ordinal utility functions, and distinguish between several … with the major deviation from ordinalism that conceives of utility functions as representing preference differences, while …

The concept of identity was introduced into the neoclassical utility maximising framework by Akerlof and Kranton in an … argument in the utility function leaves unaddressed how individuals' different social identities are related. The paper … suggests a framework for addressing this issue by embedding their utility function in a personal identity objective function …

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. …