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Representations of Preferences Orderings
Bridges, Douglas S. (University Of Canterbury); Mehta, Ghanshyam B.
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Description for Representations of Preferences Orderings
Paperback. This monograph is devoted to the representation of preference orderings by real-valued order isomorphisms ("utility functions"). The most significant theorems and methods in the field are examined in a manner that should interest all those researching partial orders and their representations. Series: Lecture Notes in Economics and Mathematical Systems. Num Pages: 175 pages, biography. BIC Classification: KCA; KJT; PBW. Category: (P) Professional & Vocational; (UP) Postgraduate, Research & Scholarly. Dimension: 203 x 127 x 10. Weight in Grams: 250.
A basic assumption made by pioneers of classical microeconomics such as Edgeworth and Pareto was that the ranking of a consumer's preferences could always be measured numerically, by associating to each possible con- sumption bundle a real number that measured its utility: the greater the utility, the more preferred was the bundle, and conversely. It took several decades before the naivety of this assumption was seriously challenged by economists, such as Wold, attempting to find conditions under which it could be justified mathematically. Wold's work was the first in a long chain of results of that type, leading to the ... Read more
A basic assumption made by pioneers of classical microeconomics such as Edgeworth and Pareto was that the ranking of a consumer's preferences could always be measured numerically, by associating to each possible con- sumption bundle a real number that measured its utility: the greater the utility, the more preferred was the bundle, and conversely. It took several decades before the naivety of this assumption was seriously challenged by economists, such as Wold, attempting to find conditions under which it could be justified mathematically. Wold's work was the first in a long chain of results of that type, leading to the ... Read more
Product Details
Format
Paperback
Publication date
1995
Publisher
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Germany
Number of pages
175
Condition
New
Series
Lecture Notes in Economics and Mathematical Systems
Number of Pages
165
Place of Publication
Berlin, Germany
ISBN
9783540588399
SKU
V9783540588399
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
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