- A-Z
- Jena Economic Resea...
- Volume 3
- Some Considerations...
- Autor(in)
- Erwähnte Institution
- Erscheinungsjahr des rezensierten Werkes
- seit 8. Dezember 2009
- Nummer des Discussion-Papers
-
2009-099
- Schlagwort(e)
-
multidimensionality of utility
neuroeconomics
pleasures
utility
- Zusammenfsg.
-
The concept of ‘utility’ is often used in ambiguous ways in economics, from having substantive psychological connotations to being a formal placeholder representing a person’s preferences. In the accounts of the early utilitarians, it was a multidimensional measure that has been condensed during the marginalist revolution into the unidimensional measure we know today. But can we compare diļ¬erent pleasures? This paper assesses the evidence from psychology and neurosciences on how to best conceive of utility. It turns out that empirical evidence does not favor a view of multidimensional utility. This does not eliminate the possibility to make a normative argument supporting a multidimensional notion of utility.
- article pub. typess JER
- Research article
- article languages JER
- Englisch
- article research fields JER
- economics
- JEL-Classification for JER
- D87 - Neuroeconomics ; B41 - Economic Methodology ; B12 - Classical