Disutility of utility

Gennady Bilych ()

Microeconomics from Socionet

Abstract: Marginal utility theory, being the main framework of consumer economic behavior theory, has aroused and keeps arousing objections of many economists. The impossibility of a quantitative measurement and the doubtfulness of qualitative characteristics of utility continue generating attempts to create alternative theories of consumer behavior. One of possible alternatives is an attempt to consider consumer behavior in the same manner as producer behavior. A consumer and a producer strive to derive maximum gain from consumption process and production process. As a result of such an approach the utility and marginal utility of a good transform into a total value and price of the good respectively.

Date: 2011-02-06
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Persistent link: https://EconPapers.repec.org/RePEc:nos:wuwpmi:bilych_gennady.85552-3

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