A Short History of Utility

Han Bleichrodt ()
Additional contact information
Han Bleichrodt: University of Alicante

Chapter Chapter 3 in Behavioural Economics, 2025, pp 29-49 from Springer

Abstract: Abstract In Chap. 2 we saw how utility can be derived if the preference relation $$\succcurlyeq $$ ≽ satisfies completeness and transitivity (and what can still be done if these conditions are relaxed). This utility concept only orders alternatives and has no psychological meaning. However, economists have not always seen utility this way. In this chapter, I give a short overview of the evolution of the concept of utility from the classical economists to the now dominant neoclassical view. It prepares for the next chapter where we will see that behavioural economics can be seen as a return to a more classical view of utility.

Date: 2025
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-69166-9_3

Ordering information: This item can be ordered from
http://www.springer.com/9783031691669

DOI: 10.1007/978-3-031-69166-9_3

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().