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 …

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. …

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 …

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 …

orders on finite utility streams. We show that a preference order satisfying the axioms of Minimal Individual Symmetry …

We propose that outcome utility and process utility can be distinguished and empirically measured. People gain … procedural utility from participating in the political decision-making process itself, irrespective of the outcome. Nationals … enjoy both outcome and process utility, while foreigners are excluded from political decision-making and therefore cannot …

allow utility values to be derived at the individual level also. The DCE presented respondents with eight pairwise risky … choices to estimate aggregate utility values for three EQ-5D health states, ranging from mild to severe. The design allowed … the elicitation of utility values for worse-than-dead states. Risk was represented using the stimulus used by EuroVaQ …

and the potential increments over it are evaluated by subjective expected utility with a risky utility function u. In … contrast to earlier approaches with models that aimed at separating riskless and risky utility, CT does not violate basic … irregularities like the expected utility paradoxes of Allais and Rabin, CT also separates risk attitude in the strong sense from …