... and capital . Oxford. Hicks , J. R. , and R. G. D. Allen 1934 . ‘A Reconsideration of the theory of value.’ Economica 14 ( Feb. ): 52 -76 (Part 1); 14 (May): 196–216 (Part 2). High , Jack , Michael Alexeev, and Ron Heiner 1987 . ‘Deriving convexity from ordinal marginal utility...

.... HOPE 31 (Fall): 575 -86. ———. 2001 . Pareto and the 53 Percent Ordinal Theory of Utility. HOPE 33 (Fall): 541 -76. Weintraub, E. R. 2002 . How Economics Became a Mathematical Science . Durham, N.C.: Duke University Press. On the Origins of Ordinal Utility: Andreas Heinrich Voigt...

.... ____. 1999a . More on Slutsky's Equation as Pareto's Solution. HOPE 31 : 575 -86. ____. 1999b . Slutsky and Additive Utility Functions:1947-1972. HOPE 31 : 393 -416. ____. 2000 . On the Slow Rise of Ordinal Utility Theory . Unpublished working paper, Seattle University. Whittaker, E. 1960...

...Ivan Moscati This article argues that the canonical dichotomy between cardinal utility and ordinal utility is inadequate to tell an accurate history of utility theory, and that a third form of utility consistent with the so-called classical understanding of measurement should be added...

... criticisms and his own analysis, Edgeworth would move from a ratio to an ordinal understanding of utility, despite never abandoning the idea that economics should be psychologically grounded. The Temperature of the Brain: Edgeworth s Thermodynamic Analogies of Utility Measurement Thomas Michael Mueller My...

.... These papers emerged within a debate on the relationship between marginal utility and the ordinality/cardinality of utility. The present article identifies Alt’s, Samuelson’s, and Bernardelli’s contributions and delineates the relationship between marginal utility and reference-dependence. It also discusses...

... has long been, and continues to be, a controversial question. For some, revealed preference is an alternative framework for the analysis of consumer choice, a replace- ment for the consumer choice (demand) theory—ordinal utility theory— that has dominated economics since the late 1940s...

...Jean-Sébastien Lenfant The development of ordinalism was fostered by the idea of dispensing with external psychological arguments in utility theory and building the whole theory of the consumer upon indifference curves (and maps). Yet the pioneers of ordinalism, Fisher and Pareto, did not make...

... to budget constraint provides the explanation. Notice that there are at least four key parts to such an explanation. First, the individual consumers have preferences and/or an associated ordinal utility function that characterizes their personal valuations of all bundles of commodities...

... in light of his philosophy of science. Section 6 concludes. 1. Ordinalism and Operationalism Whereas the marginalists of the first generation mostly took utility to be a psychophysical entity such as pleasure-pain, modern economists have officially replaced it witha more abstract mathematical “index...

... to the measurability of utility. Since the marginal revolu- tion of the 1870s, these problems have generated a number of developments in eco- nomics, and notably the rise of the ordinal approach to utility analysis inaugurated by Vilfredo Pareto around 1900 and perfected by John Hicks, Roy Allen, and Paul Sam- uelson...

... dtconomie po- litique (1896-1897), in which Pareto substituted the term ophtlimiti for utility in order to avoid any philosophical or psychological connotation. In the Manual (Pareto 1971) he began his Mathematical Appendix with a discussion of ordinal utility-an extension of the work by P...

... I can exposit what are the relations between (a) conventional utilitarian theories of demand ?i la Bentham, Walras, Edgeworth, Marshall, Fisher, Wicksell, etc.; (b) ordinal utility paradigms ?i la Pareto, Fisher, W. E. Johnson, Slutsky, Antonelli, Hicks-Allen, Hotelling, Samuel- son...

... of cardinality. Instead, they sought units of util- ity difference and marginal difference in particular. To develop this claim, Moscati provides a primer on ordinal, cardinal, and ratio-scale measurement in general and then instantiates it in the case of utility. For the philosopher of science this is among...

... of ordinal utility or well- ordered preference. The shroud of utility metaphysics was cast away, and economics was now indeed “part of the advancing army of sci- ence” (Samuelson 1983, 10). The substantive result of ordinal utility theory that did not follow Postwar...

.... Proceedings of the National Academy of Sciences 39 . 20 ( October ): 1095 -1100. Shapley , L. S. 1953b . A Value for N-Person Games. In Kuhn and Tucker 1953. Shapley , L. S. , and M. Shubik. 1953 . Solutions of N-Person Games with Ordinal Utilities (abstract). Econometrica 21 . 2...

..., Samuelson (1938a, 1938b), could derive all the main results of ordinal utility theory (single-valuedness and homo- geneity of degree zero of demand functions, and negative semi- definiteness of the substitution matrix). In 1948, Samuelson no longer considered his “revealed preference...

... of the Theory of Value,” a paper written in collabo- ration by John R. Hicks and Roy G. D. Allen (1934), enjoys the status of a classic work. It is considered one of the basic contributions to the “ordinal utility” revolution in the 1930s and paved the way to the well- established body of theory...

..., at the turn of the century, that ordinal utilities were sufficient to support consumer the- ory; and that more recently Arrow and Debreu (1954) further refined the theory based on consumers’ preference orderings, including risk. But, Drummond et al. argue: The key point here is that cardinal...

... of the difference between linear and monotonic transformations of utility functions and thus between cardinal and ordinal utility, but from the Niehans and Jaggi / Auspitz and Lieben 369 context it is clear that an ordinal utility function is all that is necessary (see also...