Overview

The main purpose of the Handbook of Utility Theory is to make more widely available some recent developments in the area. The editors selected a list of topics that seemed ripe enough to be covered by review articles. Then they invited contributions from researchers whose expert work had come to their attention. So the list of topics and contributors is largely the editors' responsibility. Each contributor's chapter has been refereed, and revised according to the referees' remarks. Whereas Volume I of the Handbook of Utility Theory is largely concentrated on basic theory, the present volume is concerned with extensions and applications to other branches of economic theory. Taken together, these first two volumes contain all the purely theoretical material that the editors planned to cover. The chapters on experimental and empirical research on utility and the chapters on the history of utility theory will appear in Volume III.

Full Product Details

Author:   Salvador Barbera ,  Peter Hammond ,  Christian Seidl
Publisher:   Springer-Verlag New York Inc.
Imprint:   Springer-Verlag New York Inc.
Edition:   1st ed. Softcover of orig. ed. 2004
Dimensions:   Width: 15.50cm , Height: 3.20cm , Length: 23.50cm
Weight:   1.002kg
ISBN:  

9781441954176

ISBN 10:   1441954171
Pages:   626
Publication Date:   05 November 2010
Audience:   Professional and scholarly ,  Professional and scholarly ,  Professional & Vocational ,  Professional & Vocational
Format:   Paperback
Publisher's Status:   Active
Availability:   Out of print, replaced by POD  
We will order this item for you from a manufatured on demand supplier.

Table of Contents

14 Alternatives to Expected Utility: Foundations.- 1 Introduction.- 2 Choice Under Risk: The von Neumann-Morgenstern Framework.- 3 Choice Under Uncertainty: The Savage Framework.- 4 Dynamic Choice.- 5 Conclusion.- References.- 15 Alternatives to Expected Utility: Formal Theories.- 1 Introduction.- 2 The General Framework.- 3 Expected Utility Theory.- 4 Generalizations of Expected Utility.- 5 Conclusions.- References.- 16 State-Dependent Utility and Decision Theory.- 1 Technical Summary.- 2 Introduction, Retrospect and Preview.- 3 A General Framework.- 4 Games Against Nature.- 5 Hypothetical Preferences.- 6 Games with Moral Hazard.- 7 Conditional Expected Utility.- 8 Risk Aversion.- 9 Applications: Life Insurance and Value of Life.- 10 Conclusion.- References.- 17 Ranking Sets of Objects.- 1 Introduction.- 2 An Overview.- 3 Complete Uncertainty.- 4 Opportunities.- 5 Sets As Final Outcomes.- 6 Concluding Remarks.- References.- 18 Expected Utility in Non-Cooperative Game Theory.- 1 Introduction and Outline.- 2 Normal Form Invariance.- 3 Objective Probabilities and Best Responses.- 4 Objective Probabilities and Equilibrium.- 5 Perfect and Proper Equilibrium.- 6 Quantal Response Equilibrium.- 7 Beyond Equilibrium.- 8 Subjectively Expected Utility in Game Theory.- 9 Rationalizable Expectations.- 10 Hierarchies of Beliefs.- 11 Trembling Best Responses.- 12 Rationalizable Preferences over Pure Strategies.- 13 Conclusion: Insecure Foundations?.- References.- 19 Utility Theories in Cooperative Games.- 1 Introduction.- 2 Games with Side Payments.- 3 Axiomatic Characterization of Transferable Utility.- 4 Solution Concepts for Games with Side Payments.- 5 Games Without Side Payments and Some Solution Concepts.- References.- 20 Utility in Social Choice.- 1 Introduction.- 2 Welfarism.- 3 Social Welfare Orderings.- 4 Utility Comparisons Using Invariance Transforms.- 5 Utility Comparisons As Meaningful Statements.- 6 Cardinal Measurability and Full Comparability.- 7 Cardinal Measurability and Unit Comparability.- 8 Translation-Scale Measurability.- 9 Ordinal Measurability and Full Comparability.- 10 Ordinal and Cardinal Measurability.- 11 Ratio-Scale Measurability.- 12 Two-Person Situations.- 13 Separability.- 14 Variable-Population Social Choice.- 15 Concluding Remarks.- References.- 21 Interpersonally Comparable Utility.- 1 Introduction and Outline.- 2 Welfare Economics.- 3 Social Choice without Interpersonal Comparisons.- 4 Social Choice with Interpersonal Comparisons.- 5 The Basis of Interpersonal Comparisons.- 6 Interpersonally Comparable Measures of Economic Welfare.- 7 A Generalized Utilitarianism.- 8 Concluding Remarks.- References.- Name Index.

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