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Utility Maximization, Choice and Preference
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TLDR
The utility maximization paradigm forms the basis of many economic, psychological, cognitive and behavioral models since it was first devised in the eighteenth century, and numerous examples have revealed the deficiencies of the concept by taking into account insensitivity of measurement threshold and context of choice.Abstract:
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 conceptThis 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 modelsThe 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 fieldsread more
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Cognitive constraints, contraction consistency, and the satisficing criterion
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Dopamine receptor genes predict risk preferences, time preferences, and related economic choices
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