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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

(p.93) II.1 Utility Hypothesis
Logic of Choice and Economic Theory

S. N. Afriat

Oxford University Press

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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