Handbook of Utility Theory

Salvador Barbera

ISBN 10: 1402077149 / ISBN 13: 9781402077142

Published by Springer US, Springer US Mär 2004, 2004

About this Item

Neuware -The standard rationality hypothesis is that behaviour can be represented as the maximization of a suitably restricted utility function. This hypothesis lies at the heart of a large body of recent work in economics, of course, but also in political science, ethics, and other major branches of the social sciences. Though this hypothesis of utility maximization deserves our continued respect, finding further refinements and developing new critiques remain areas of active research. In fact, many fundamental conceptual problems remain unsettled. Where others have been resolved, their resolutions may be too recent to have achieved widespread understanding among social scientists. Last but not least, a growing number of papers attempt to challenge the rationality hypothesis head on, at least in its more orthodox formulation. The main purpose of this Handbook is to make more widely available some recent developments in the area. Yet we are well aware that the final chapter of a handbook like this can never be written as long as the area of research remains active, as is certainly the case with utility theory. The editors originally selected a list of topics that seemed ripe enough at the time that the book was planned. Then they invited contributions from researchers whose work had come to their attention. So the list of topics and contributors is largely the editors' responsibility, although some potential con tributors did decline our invitation. Each chapter has also been refereed, and often significantly revised in the light of the referees' remarks.Springer Verlag GmbH, Tiergartenstr. 17, 69121 Heidelberg 648 pp. Englisch.

Seller Inventory # 9781402077142

Bibliographic Details

• Title: Handbook of Utility Theory
• Publisher: Springer US, Springer US Mär 2004
• Publication Date: 2004
• Language: English
• ISBN 10: 1402077149
• ISBN 13: 9781402077142
• Binding: Buch
• Condition: Neu
• Dimensions: 241W x 160H x 41D millimeters 241 millimeters width by 160 millimeters height by 41 millimeters depth
• Weight: 1127 grams

About this title

Synopsis

The standard rationality hypothesis is that behaviour can be represented as the maximization of a suitably restricted utility function. This hypothesis lies at the heart of a large body of recent work in economics, of course, but also in political science, ethics, and other major branches of the social sciences. Though this hypothesis of utility maximization deserves our continued respect, finding further refinements and developing new critiques remain areas of active research. In fact, many fundamental conceptual problems remain unsettled. Where others have been resolved, their resolutions may be too recent to have achieved widespread understanding among social scientists. Last but not least, a growing number of papers attempt to challenge the rationality hypothesis head on, at least in its more orthodox formulation. The main purpose of this Handbook is to make more widely available some recent developments in the area. Yet we are well aware that the final chapter of a handbook like this can never be written as long as the area of research remains active, as is certainly the case with utility theory. The editors originally selected a list of topics that seemed ripe enough at the time that the book was planned. Then they invited contributions from researchers whose work had come to their attention. So the list of topics and contributors is largely the editors' responsibility, although some potential con­ tributors did decline our invitation. Each chapter has also been refereed, and often significantly revised in the light of the referees' remarks.

Synopsis

The main purpose of the "Handbook of Utility Theory" is to make more widely available some recent developments in the area. The editors selected a list of topics that seemed ripe enough to be covered by review articles. Then they invited contributions from researchers whose expert work had come to their attention. So the list of topics and contributors is largely the editors' responsibility. Each contributor's chapter has been refereed, and revised according to the referees' remarks. Whereas Volume I of the "Handbook of Utility Theory" is largely concentrated on basic theory, the present volume is concerned with extensions and applications to other branches of economic theory. Taken together, these first two volumes contain all the purely theoretical material that the editors planned to cover. The chapters on experimental and empirical research on utility and the chapters on the history of utility theory will appear in Volume III.