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Logic of Choice and Economic Theory$
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S. N. Afriat

Print publication date: 1987

Print ISBN-13: 9780198284611

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198284616.001.0001

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Utility Hypothesis

Utility Hypothesis

Chapter:
(p.93) II.1 Utility Hypothesis
Source:
Logic of Choice and Economic Theory
Author(s):

S. N. Afriat

Publisher:
Oxford University Press
DOI:10.1093/0198284616.003.0007

This is the first of six chapters in Part II about demand and utility cost, a typical area for what is understood as choice theory. It discusses utility hypothesis and the theory of value. Its five sections are: needs of measurement (of utility); common practice and (William) Fleetwood; parallels in theory (as applied to utility construction); revealed preference (as applied to demand functions); and the classical case (of the utility function).

Keywords:   choice, choice theory, demand, demand functions, William Fleetwood, measurement of utility, revealed preference, theory of value, utility construction, utility cost, utility function

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