Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/327720 
Year of Publication: 
2025
Citation: 
[Journal:] Economies [ISSN:] 2227-7099 [Volume:] 13 [Issue:] 10 [Article No.:] 283 [Publisher:] MDPI AG [Place:] Basel [Year:] 2025
Publisher: 
MDPI AG, Basel
Abstract: 
We review the evolution of the concept of utility in economics, addressing the conceptual and terminological fragmentation that characterises the interdisciplinary debate. This study adopts the scoping review framework to systematically analyse the main theoretical approaches, ranging from utility as preference to utility as subjective satisfaction and well-being. Particular attention is paid to procedural utility, i.e., the utility derived from the way decisions are made and interactions develop, divided into three areas: individual, linked to autonomy and self-determination; interpersonal, related to the quality of social relations; and institutional, referring to participation and recognition. The analysis is based on three aspects: (i) how different theoretical traditions have interpreted utility and well-being; (ii) what convergences and divergences emerge in the contemporary literature; (iii) and what implications these factors have for research and public policy. We highlight the complementarity between approaches and suggest extending economic reflection to dimensions that are central to the well-being of individuals and societies. The insights of this study have public policy implications, indicating that, through well-defined institutions, distributive justice, and welfare systems, taxpayers’ hedonic utility can be transformed into the chrematistic utility of beneficiaries.
Subjects: 
Utility
Well-being
Microeconomics
Utility function
Welfare
rationaliy
JEL: 
D01
A13
Persistent Identifier of the first edition: 
URL of the first edition: 
Creative Commons License: 
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Document Type: 
Article
Document Version: 
Published Version
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