EconPapers    
Economics at your fingertips  
 

Understanding Human Choice

Roger D. Johnson

Chapter Chapter 5 in Rediscovering Social Economics, 2017, pp 57-67 from Palgrave Macmillan

Abstract: Abstract Marginalists converted the tools that Utilitarian philosophers developed for promoting aggregate social welfare into mathematical tools that were only suitable for analyzing individual optimizing behavior. Marginal utility analysis, however, rests upon untested and questionable assumptions about the psychological process for assigning values that were then used to generate the axiom that the process of exchange creates value.

Keywords: Marginal Utility; Market Exchange; Consumer Surplus; Total Utility; Neoclassical Economist (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations: Track citations by RSS feed

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:pal:pfschp:978-3-319-51265-5_5

Ordering information: This item can be ordered from
http://www.palgrave.com/9783319512655

DOI: 10.1007/978-3-319-51265-5_5

Access Statistics for this chapter

More chapters in Perspectives from Social Economics from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2022-09-22
Handle: RePEc:pal:pfschp:978-3-319-51265-5_5