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Search Results for ordinal utility
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History of Political Economy (1989) 21 (2): 351–365.
Published: 01 June 1989
... 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...
History of Political Economy (2008) 40 (3): 481–510.
Published: 01 September 2008
.... 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...
History of Political Economy (2001) 33 (3): 541–576.
Published: 01 September 2001
.... ____. 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 Unpublished working paper, Seattle University.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...
History of Political Economy (2013) 45 (3): 373–414.
Published: 01 September 2013
...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...
History of Political Economy (2020) 52 (4): 709–740.
Published: 01 August 2020
... 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. Correspondence may be addressed to Thomas Michael Mueller: email@example.com . Copyright 2020 by Duke...
History of Political Economy (2014) 46 (4): 677–693.
Published: 01 November 2014
.... 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...
History of Political Economy (2014) 46 (1): 85–116.
Published: 01 March 2014
... utility theory— that has dominated economics since the late 1940s. For others, revealed preference is a complement rather than a substitute for ordinal utility theory—simply a different, formally equivalent, way of expressing the standard theory. And as will be clear below, these two...
History of Political Economy (2012) 44 (1): 113–155.
Published: 01 March 2012
...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...
History of Political Economy (2006) 38 (Suppl_1): 1–6.
Published: 01 December 2006
... 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...
History of Political Economy (2001) 33 (1): 21–49.
Published: 01 March 2001
...Luigino Bruni; Francesco Guala Correspondence may be addressed to Luigino Bruni, Via di Frascati 306, 00040 Rocca di Papa (Rome), Italy. Duke University Press 2001 Baumol, W. J. 1958 . The Cardinal Utility Which Is Ordinal. Economic Journal 68 : 665 -72. Bernardelli, H. 1934...
History of Political Economy (2021) 53 (2): 367–369.
Published: 01 April 2021
... 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...
History of Political Economy (1983) 15 (4): 513–517.
Published: 01 November 1983
... 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...
History of Political Economy (1993) 25 (3): 515–527.
Published: 01 September 1993
... 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...
History of Political Economy (2019) 51 (5): 974–976.
Published: 01 October 2019
... 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...
History of Political Economy (1998) 30 (Supplement): 260–292.
Published: 01 December 1998
... and the Nature of Demand and Supply Functions. Journal of Political Economy 40 : 577 -616. Hotelling , Harold 1932b . Review of Ragnar Frisch's New Methods of Measuring Marginal Utility. Journal of the American Statistical Association 27 : 451 -52. Hotelling , Harold 1935 . Demand...
History of Political Economy (1992) 24 (Supplement): 151–163.
Published: 01 December 1992
.... 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...
History of Political Economy (1993) 25 (3): 499–514.
Published: 01 September 1993
..., 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...
History of Political Economy (2006) 38 (Suppl_1): 32–47.
Published: 01 December 2006
... 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...
History of Political Economy (2004) 36 (4): 617–637.
Published: 01 November 2004
..., 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...
History of Political Economy (1995) 27 (2): 365–386.
Published: 01 June 1995
... 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...