Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/59988
Authors: 
He, Yuqing
Year of Publication: 
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: 
http://creativecommons.org/licenses/by-nc/2.0/de/deed.en
Document Type: 
Working Paper

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