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Author: Ivan Moscati
Publisher:
ISBN: 0199372764
Category : Business & Economics
Languages : en
Pages : 345
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Book Description
Utility is a key concept in the economics of individual decision-making. However, utility is not measurable in a straightforward way. As a result, from the very beginning there has been debates about the meaning of utility as well as how to measure it. This book is an innovative investigation of how these arguments changed over time. Measuring Utility reconstructs economists' ideas and discussions about utility measurement from 1870 to 1985, as well as their attempts to measure utility empirically. The book brings into focus the interplay between the evolution of utility analysis, economists' ideas about utility measurement, and their conception of what measurement in general means. It also explores the relationships between the history of utility measurement in economics, the history of the measurement of sensations in psychology, and the history of measurement theory in general. Finally, the book discusses some methodological problems related to utility measurement, such as the epistemological status of the utility concept and its measures. The first part covers the period 1870-1910, and discusses the issue of utility measurement in the theories of Jevons, Menger, Walras and other early utility theorists. Part II deals with the emergence of the notions of ordinal and cardinal utility during the period 1900-1945, and discusses two early attempts to give an empirical content to the notion of utility. Part III focuses on the 1945-1955 debate on utility measurement that was originated by von Neumann and Morgenstern's expected utility theory (EUT). Part IV reconstructs the experimental attempts to measure the utility of money between 1950 and 1985 within the framework provided by EUT. This historical and epistemological overview provides keen insights into current debates about rational choice theory and behavioral economics in the theory of individual decision-making and the philosophy of economics.
Author: Ivan Moscati
Publisher:
ISBN: 0199372764
Category : Business & Economics
Languages : en
Pages : 345
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Book Description
Utility is a key concept in the economics of individual decision-making. However, utility is not measurable in a straightforward way. As a result, from the very beginning there has been debates about the meaning of utility as well as how to measure it. This book is an innovative investigation of how these arguments changed over time. Measuring Utility reconstructs economists' ideas and discussions about utility measurement from 1870 to 1985, as well as their attempts to measure utility empirically. The book brings into focus the interplay between the evolution of utility analysis, economists' ideas about utility measurement, and their conception of what measurement in general means. It also explores the relationships between the history of utility measurement in economics, the history of the measurement of sensations in psychology, and the history of measurement theory in general. Finally, the book discusses some methodological problems related to utility measurement, such as the epistemological status of the utility concept and its measures. The first part covers the period 1870-1910, and discusses the issue of utility measurement in the theories of Jevons, Menger, Walras and other early utility theorists. Part II deals with the emergence of the notions of ordinal and cardinal utility during the period 1900-1945, and discusses two early attempts to give an empirical content to the notion of utility. Part III focuses on the 1945-1955 debate on utility measurement that was originated by von Neumann and Morgenstern's expected utility theory (EUT). Part IV reconstructs the experimental attempts to measure the utility of money between 1950 and 1985 within the framework provided by EUT. This historical and epistemological overview provides keen insights into current debates about rational choice theory and behavioral economics in the theory of individual decision-making and the philosophy of economics.
Author: D. N. Dwivedi
Publisher: Pearson Education India
ISBN: 9788177586480
Category : Cost
Languages : en
Pages : 648
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Book Description
This book is intended to be a comprehensive and standard textbook for undergraduate students of Microeconomics. Apart from providing students with sufficient study material for examination purpose, it aims at making them understand economics. An effort has been made to explain abstract and complex microeconomic theories in a simple and lucid language without sacrificing analytical sophistication. The subject matter has been structured in a systematic manner without leaving gaps for the readers to fill in. Though the approach is non-mathematical, simple algebra has been used to give a concrete view of economic concepts and theories and to show the applicability of economic theories in decision making.
Author: Albert N. Halter
Publisher:
ISBN:
Category : Farm management
Languages : en
Pages : 430
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Book Description
Author: John Brazier
Publisher: Oxford University Press
ISBN: 0198725922
Category : Business & Economics
Languages : en
Pages : 373
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Book Description
There are not enough resources in health care systems around the world to fund all technically feasible and potentially beneficial health care interventions. Difficult choices have to be made, and economic evaluation offers a systematic and transparent process for informing such choices. A key component of economic evaluation is how to value the benefits of health care in a way that permits comparison between health care interventions, such as through costs per quality-adjusted life years (QALY). Measuring and Valuing Health Benefits for Economic Evaluation examines the measurement and valuation of health benefits, reviews the explosion of theoretical and empirical work in the field, and explores an area of research that continues to be a major source of debate. It addresses the key questions in the field including: the definition of health, the techniques of valuation, who should provide the values, techniques for modelling health state values, the appropriateness of tools in children and vulnerable groups, cross cultural issues, and the problem of choosing the right instrument. This new edition contains updated empirical examples and practical applications, which help to clarify the readers understanding of real world contexts. It features a glossary containing the common terms used by practitioners, and has been updated to cover new measures of health and wellbeing, such as ICECAP, ASCOT and AQOL. It takes into account new research into the social weighting of a QALY, the rising use of ordinal valuation techniques, use of the internet to collect data, and the use of health state utility values in cost effectiveness models. This is an ideal resource for anyone wishing to gain a specialised understanding of health benefit measurement in economic evaluation, especially those working in the fields of health economics, public sector economics, pharmacoeconomics, health services research, public health, and quality of life research.
Author: Dwivedi D.N.
Publisher: Vikas Publishing House
ISBN: 9788125916512
Category : Business & Economics
Languages : en
Pages : 644
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Book Description
Principles Of Economics Is A Comprehensive Textbook For Undergraduate And Postgraduate Students. The Book Begins With A Simple Introduction To Economics As A Social Science, Moves On To Basic Economic Problems Of Individuals, Firms And The Society Focusin
Author: Dr. Himanshu Saxena
Publisher: Thakur Publication Private Limited
ISBN: 9357559280
Category : Education
Languages : en
Pages : 296
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Book Description
Buy Latest Business Economics ( Major/Minor ) e-Book in English language for B.Com 1st Semester University of Rajasthan (Jaipur) By Thakur publication.
Author: Dr. Himanshu Saxena
Publisher: Thakur Publication Private Limited
ISBN:
Category : Education
Languages : en
Pages : 296
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Book Description
Buy Business Economics (Major/Minor) e-Book for B.Com 1st Sem/BBA 2nd Sem University of Rajasthan, Jaipur Syllabus as Per (NEP-2020) By Thakur Publication.
Author: A.A.J. Marley
Publisher: Routledge
ISBN: 1317729404
Category : Psychology
Languages : en
Pages : 415
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Book Description
This volume is the result of a conference held at the University of California, Irvine, on the topics that provide its title -- choice, decision, and measurement. The conference was planned, and the volume prepared, in honor of Professor R. Duncan Luce on his 70th birthday. Following a short autobiographical statement by Luce, the volume is organized into four topics, to each of which Luce has made significant contributions. The book provides an overview of current issues in each area and presents some of the best recent theoretical and empirical work. Personal reflections on Luce and his work begin each section. These reflections were written by outstanding senior researchers: Peter Fishburn (Preference and Decision Making), Patrick Suppes (Measurement Theory and Axiomatic Systems), William J. McGill (Psychophysics and Reaction Time), and W.K. Estes (Choice, Identification and Categorization). The first section presents recent theoretical and empirical work on descriptive models of decision making, and theoretical results on general probabilistic models of choice and ranking. Luce's recent theoretical and empirical work on rank- and sign-dependent utility theory is important in many of these contributions. The second section presents results from psychophysics, probabilistic measurement, aggregation of expert opinion, and test theory. The third section presents various process oriented models, with supportive data, for tasks such as redundant signal detection, forced choice, and absolute identification. The final section contains theory and data on categorization and attention, and general theoretical results for developing and testing models in these domains.
Author: Sampat Mukherjee
Publisher: New Age International
ISBN: 9788122414141
Category : Economics
Languages : en
Pages : 1018
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Book Description
This Edition Includes Several New Topics To Make The Coverage More Comprehensive And Contemporary. Various Concepts And Issues Involved In Economic Analysis Have Been Thoroughly Explained And Illustrated With The Help Of Examples Drawn From Our Daily Experience. The Inter-Relationships Between Different Concepts Have Been Suitably Highlighted. The Application Of Economic Tools For Problem Solving Has Been Emphasised. Review Questions And Exercises Have Been Included In Each Chapter To Help Students To Test Their Understanding And Prepare Confidently For Examinations.The Book Would Serve As Excellent Text For B.A., B.Com And Business Administration Students. Candidates Preparing For Various Professional And Competitive Examinations Would Also Find It Very Useful.
Author: Adam Sanoé Booij
Publisher: Rozenberg Publishers
ISBN: 9036101190
Category :
Languages : en
Pages : 174
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Book Description
