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http://hdl.handle.net/10419/59988
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| Title: | | Experimental test of utility maximization  |
| Authors: | | He, Yuqing |
| Issue Date: | | 2012 |
| Series/Report no.: | | Economics Discussion Papers 2012-32 |
| Abstract: | | The study tests the cardinal utility maximization hypothesis by an experimental procedure in a framework of utility scaling approach following the psychophysical-econometric paradigm, conceived in He (Psychophysical Interpretation for Utility Measures, 2011). It reveals (i) the utility maximization can be tested and has been supported by experimental results; (ii) the utility scaling approach following the psychophysical econometric paradigm offers a new foundation to discuss the utility concept; and (iii) it is necessary to distinguish the perception utility and emotion utility to respectively describe economic choices and enjoyment choices. |
| Subjects: | | utility maximization experiment Klein-Rubin utility function perception utility emotion utility |
| JEL: | | A10 D01 |
| Creative Commons License: | |  |
| Document Type: | | Working Paper |
| Appears in Collections: | | Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers
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