The Problem with Utility: Towards a Non-Consequentialist / Utility Theory Synthesis

Lanse Minkler ()

No 1997-09, Working papers from University of Connecticut, Department of Economics

Abstract: I develop the argument that our current decision-making framework, utility theory, when used by itself, is 1) descriptively incomplete, 2) theoretically flawed, and 2) ethically questionable. In response, I offer an exploratory framework that incorporates both consequentialist and non-consequentialist motivations. Adding a commitment function provides a synthesis which remedies the problems associated with the sole use of utility theory. Finally, I show how philosophers Immanuel Kant, W.D. Ross, and Martin Buber provide an ethical basis for the framework.

Pages: 22 pages
Date: 1997-08
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: The Problem with Utility: Toward a Non-Consequentialist/Utility Theory Synthesis (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:uct:uconnp:1997-09

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