Utility Maximization, Choice and Preference

✍ Scribed by Professor Dr. Fuad Aleskerov, Professor Denis Bouyssou, Professor Bernard Monjardet (auth.)

• Publisher: Springer-Verlag Berlin Heidelberg
• Year: 2007
• Tongue: English
• Leaves: 287
• Edition: 2
• Category: Library

✦ Synopsis

The utility maximization paradigm forms the basis of many economic, psychological, cognitive and behavioral models. Since it was first devised in the eighteenth century, numerous examples have revealed the deficiencies of the concept. This book makes a contribution to overcome those deficiencies by taking into account insensitivity of measurement threshold and context of choice. It covers classic theory as a special, context-free case and gives a systematic overview of new models of utility maximization within a context-dependent threshold as well as related preference and choice models. The second edition has been updated to include the most recent developments and a new chapter on classic and new results for infinite sets. The presented models will be helpful to scientists in economics, decision making theory, social choice theory, behavioral and cognitive sciences, and related fields.

✦ Table of Contents

Front Matter....Pages i-xii
Introduction....Pages 1-15
Preference, Utility, and Choice: Classic Models....Pages 17-52
Utility Maximization Within a Constant Threshold or a Threshold Depending on One Alternative....Pages 53-111
Utility Maximization Within a Threshold Depending on Both Compared Alternatives....Pages 113-143
Utility Maximization Within a Context-dependent Threshold....Pages 145-196
Numerical Representation of Binary Relations on Infinite Sets....Pages 197-244
Conclusion....Pages 245-254
Back Matter....Pages 255-283

✦ Subjects

Economic Theory; Game Theory, Economics, Social and Behav. Sciences