Dissertations / Theses: 'Marginal utility. Utility theory. Economics'

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Libardi, de Carvalho Mateus. "An investigation into the elasticity of marginal utility." Thesis, University of Birmingham, 2018. http://etheses.bham.ac.uk//id/eprint/8396/.

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Prioritizing public investments is arguably one of the most important and complex tasks Governments face. In this thesis, I contribute to such a task by examining the Elasticity of the Marginal Utility (EMU). This parameter is central to the determination of the Social Discount Rate, which is the discount rate used for Cost-Benefit Analysis in the public sector. I estimate the EMU using an unprecedentedly large dataset and test variants of the estimation technique which include National Insurance Contributions and Supernumerary Income. I also test the robustness of the estimates obtained. I further investigate the validity of the estimates by testing for the first time the key assumption underlying the estimation technique that the degree of progressivity of the income tax schedule represents society's inequality aversion. Next, I examine causality between tax progressivity and income inequality, which is a theme that emerges from testing the assumption mentioned. Finally, I estimate the EMU in different contexts, relating the estimated values and their context-sensitivity to psychological traits. Overall, the results suggest an EMU of 1.5 and that the estimation methodology implemented is acceptable. They also show bidirectional causality between progressivity and inequality, and that the EMU values vary significantly with psychological traits.

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Hoffmann, Nimi. "The role of the instrumental principle in economic explanations." Thesis, Rhodes University, 2009. http://hdl.handle.net/10962/d1002842.

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Economic explanations tend to view individuals as acting to satisfy their preferences, so that when given a choice between goods, individuals choose those goods which have greater utility for them – they choose those goods which they believe can best satisfy their preferences in the circumstances at hand. In this thesis, I investigate how utility theory works when it is used to explain behaviour. In theory, utility is a positive concept. It is intended to describe and explain an individual’s behaviour without judging or justifying it. It also seems to be regarded as non-hypothetical, for it explains an individual’s behaviour in terms of preferences which need not be shared by others, but may be wholly particular to her. This implies a distinctive way of approaching people’s behaviour as isolated from and immune to the judgements of a community, for utility cannot be used as a common standard by which we judge an individual’s behaviour as better or worse, appropriate or inappropriate. I argue that this theoretical treatment of utility is substantially different from the practice of using utility to explain behaviour. In the first place, when utility is used to explain behaviour as preference-guided, it treats this behaviour as rational action. An explanation of rational action is, however, necessarily governed by the instrumental principle. This principle is normative – it stipulates the correct relation between a person’s means and her ends, rather than simply describing an existing relation. The principle is also non-hypothetical – our commitment to the principle does not rely on the possession of particular ends, but on having ends in general. The instrumental principle therefore acts as a common standard for reasoning about how to act, so that when we explain an agent’s behaviour as rational action, we expect that her action will conform to standards that we all share in virtue of having ends. Thus, I contend, in order to explain the rational actions of an individual, marginal utility necessarily appeals to the judgements of a community.

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Hudík, Marek. "Essays on Economic Behaviour." Doctoral thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-72328.

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The main thesis of these essays is that social phenomena are different from psychological phenomena and thus social sciences do not belong to behavioural sciences. Chapter 1 introduces the fundamental problem of the rational choice theory ("Macaulay's problem"): either the theory is empirical and false or it is without empirical content and true. Various suggested solutions to this problem are reviewed and criticized. It is argued that the problem is evaded once it is admitted that rational choice theory does not attempt to explain behaviour. It was developed to explain decreasing individual demand and its extension to behavioural sciences is illegitimate. In Chapter 2 the difference between the interpretation of rationality in choice theory and demand theory is shown. It is argued that choice theory must adopt the agent's point of view, while demand theory proceeds from the point of view of an observer. Chapter 3 applies the argument to the problem of indifference ("Nozick's problem"): it claims that choice theory must adopt strict ordering of alternatives because indifference is already accounted for in the description of the choice alternatives. The difference between the consumer perception and the objective price-quantity relation embodied in the demand function is further explored in Chapter 4 on the example of the Rothbardian demand theory. It is argued that the law of marginal utility defined in terms of subjective units (i.e. units relevant to the consumer) does not imply nonincreasing demand. Chapter 5 is complementary to the previous and attempts to answer the question, whether the concept of marginal utility is compatible with ordinalism. Finally, Chapter 6 discusses on the methodological level the difference between behavioural sciences and economics. It argues that the difference can be conveniently described with the help of Popper's concepts of 'World 2'and 'World 3'.

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Maas, Harro. "William Stanley Jevons and the making of modern economics /." Cambridge : Cambridge University Press, 2005. http://aleph.unisg.ch/hsgscan/hm00155220.pdf.

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Toll, Kristopher C. "Using a Discrete Choice Experiment to Estimate Willingness to Pay for Location Based Housing Attributes." DigitalCommons@USU, 2019. https://digitalcommons.usu.edu/etd/7657.

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In 1993, a travel study was conducted along the Wasatch front in Utah (Research Systems Group INC, 2013). The main purpose of this study was to assess travel behavior to understand the needs for future growth in Utah. Since then, the Research Service Group (RSG), conducted a new study in 2012 to understand current travel preferences in Utah. This survey, called the Residential Choice Stated Preference survey, asked respondents to make ten choice comparisons between two hypothetical homes. Each home in the choice comparison was described by different attributes, those attributes that were used are, type of neighborhood, distance from important destinations, distance from access to public transport, street design, parking availability, commute distance to work, and price. The survey was designed to determine the extent to which Utah residents prefer alternative household attributes in a choice selection. Each attribute contained multiple characteristic levels that were randomly combined to define each alternative home in each choice comparison. Those choices can be explained by Random Utility Theory. Multinomial logistic regression will be used to estimate changes in utility when alternative attribute levels are present in a choice comparison. Using the coefficient estimate for price, a marginal willingness to pay (MWTP) for each attribute level will be calculated. This paper will use two different approaches to obtain MWTP estimates. Method One will use housing and rent price to recode the price variable in dollar terms as defined in the discrete choice experiment. Method Two will recode the price variable as an average ten percent change in home value to extrapolate a one-time payment for homes. As a result, we found that it is possible to obtain willingness to pay estimates using both methods. The resulting interpretations in dollar terms became more relatable. Metropolitan planning organization can use these results to understand how residents perceive home value in dollar terms in the context of location-based attributes for homes.

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Vairo, David L. "Elaborations on Multiattribute Utility Theory Dominance." VCU Scholars Compass, 2019. https://scholarscompass.vcu.edu/etd/5726.

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ELABORATIONS ON MULTIATTRIBUTE UTILITY THEORY DOMINANCE By David L. Vairo A dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy at Virginia Commonwealth University. Virginia Commonwealth University, 2019. Major Director: Dissertation director’s name, Dr. Jason Merrick, Supply Chain Management and Analytics Multiattribute Utility Theory (MAUT) is used to structure decisions with more than one factor (attribute) in play. These decisions become complex when the attributes are dependent on one another. Where linear modeling is concerned with how factors are directly related or correlated with each other, MAUT is concerned with how a decision maker feels about the attributes. This means that direct elicitation of value or utility functions is required. This dissertation focuses on expanding the types of dominance forms used within MAUT. These forms reduce the direct elicitation needed to help structure decisions. Out of this work comes support for current criticisms of gain/loss separability that is assumed as part of Prospect Theory. As such, an alternative to Prospect Theory is presented, derived from within MAUT, by modeling the probability an event occurs as an attribute.

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Choe, Byung-Tae. "Essays on concave and homothetic utility functions." Uppsala : Stockholm, Sweden : s.n. ; Distributor, Almqvist & Wiksell International, 1991. http://catalog.hathitrust.org/api/volumes/oclc/27108685.html.

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Atrill, Peter. "An examination of the role, content and utility of published interim financial reports." Thesis, Henley Business School, 1986. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.373084.

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Sandberg, Thor, and Rebecka Svensson. "Den förväntade nyttan av att inte följa rekommendationer : En tvärsnittsanalys av individens efterlevnad av de allmänna råden och rekommendationerna under COVID-19 pandemin i Sverige." Thesis, Uppsala universitet, Nationalekonomiska institutionen, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-435331.

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The purpose of this study is to investigate which groups of individuals are less likely to follow the authorities’ recommendations during the COVID-19 pandemic in Sweden. The thesis aims to explain the decision-making of these individuals during a pandemic based on the theory of Expected Utility. A linear probability model is estimated in addition to a logistic regression. The study finds that the estimated effect of gender and age are significantly different from zero when considering socioeconomic control variables. The results suggest that older individuals’ expected utility is higher when following the recommendations. For men as well as younger individuals, the theory needs an extended analysis including factors from a behavioural economics point of view. This paper is an addition to an increasing number of studies conducted on the COVID-19 pandemic.
Syftet med studien är att undersöka vilka individer som är mindre sannolika att följa de allmänna råd och rekommendationer som myndigheter uppmanar till under COVID-19 pandemin i Sverige samt att konkretisera potentiella bakgrunder till varför vissa individer väljer att inte följa de utifrån teorin om förväntad nytta. Tidigare studier har visat att män och yngre individer är mindre benägna att följa restriktioner under andra pandemier. Mot den bakgrunden formulerades uppsatsens hypoteser att män och yngre individer är mer sannolika att inte följa rekommendationer under pandemin i Sverige. En linjär sannolikhetsmodell och en logistisk regression estimerades, där ålder och kön var determinanter mot en binär utfallsvariabel definierad som 0 = följer rekommendationer och 1 = följer inte rekommendationer. Resultatet visade att kön och ålder uppvisade en effekt signifikant skild från noll även efter socioekonomiska kontroller. Utifrån förklaringsmodellen tyder resultatet på att äldre individer har en hög förväntad nytta av att följa rekommendationer. För män och yngre individer behöver teorin hämta stöd från beteendeekonomin. En fördjupande analys av individers riskpreferenser rekommenderas i framtiden för att ge tydliga rekommendationer till olika grupper i samhället.

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Holmes, Richard Roland. "The economics of stock index futures : theory and evidence." Thesis, Brunel University, 1993. http://bura.brunel.ac.uk/handle/2438/5391.

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This thesis aims to provide detailed investigation into the role and functioning of the FTSE-100 stock index futures contract, by examining four interrelated issues. Chapter 1 reviews the literature, demonstrating that stock index futures can increase investor utility by offering hedging and investment opportunities. Further, the price discovery role of futures is discussed. Chapter 2 investigates the risk return relationship for the FTSE-100 contract within a CAPM framework. While CAPM adequately explains returns prior to October 1987, post-crash the contract is riskier and excess returns and a day of the week effect are evident. Chapter 3 examines the impact of futures on the underlying spot market using GARCH, which allows examination of the link between information and volatility. While spot prices are more volatile post-futures, this is due to more rapid impounding of information. The view that futures destabilise spot markets and should be subject to further regulation is questioned. Chapter 4 examines futures market efficiency using the Johansen cointegration procedure and variance bounds tests which are developed here. Results suggest futures prices provide unbiased predictions of future spot prices for 1, 2 and 4 months prior to maturity of the contract. For 3, 5 and 6 months prior to maturity the unbiasedness hypothesis does not hold. Chapter 5 discusses the major role of futures; hedging. Hedge ratios and hedging effectiveness are examined in relation to duration and expiration effects. Hedge ratio stability is also examined. Finally, hedging strategies based on historical information are examined. Results show there are duration and expiration effect, hedge ratios are stationary and using historical information does not greatly reduce hedging effectiveness. The FTSE-100 contract is shown to be a highly effective means by which to hedge risk. Chapter 6 provides a summary and concluding remarks concerning the relevance of the research carried out here.

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DeCaro, Daniel Anthony. "The Cost of Coercion: Decision Utility as a Function of both Decision Procedures and Outcomes." Miami University / OhioLINK, 2010. http://rave.ohiolink.edu/etdc/view?acc_num=miami1281026603.

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Thureson, Disa. "Cost-Benefit Analysis of climate policy and long term public investments." Doctoral thesis, Örebro universitet, Handelshögskolan vid Örebro Universitet, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:oru:diva-48241.

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This compilation dissertation consists of four essays with the common theme of welfare analysis of long-term public investments. The first two essays focus on analysis of climate change mitigation, i.e., the social cost of carbon dioxide. The third essay focuses on cost-benefit analysis (CBA) of transport investment projects, while the last essay takes a broader perspective on welfare analysis. Essay 1: The Temporal Aspects of the Social Cost of Greenhouse Gases. The purpose of Essay 1 is to investigate the temporal aspects of the social cost of greenhouse gases. I find that the calculation period should ultimately be modeled to be consistent with the discount rate and that the “global-warming potential” concept is unsuitable for calculation of the social cost of GHGs other than carbon dioxide. Essay 2: Avoiding path dependence of distributional weights: Lessons from climate change economic assessments. In Essay 2, I explore shortcomings in income weighting in evaluation of climate change policy. In short, in previous versions of two of the most important existing models, regional economic growth is double counted. The proposed alternative approaches yield about 20–40% higher values of SCCO2 than the old approach. Essay 3: Does uncertainty make cost-benefit analyses pointless? In Essay 3, the aim is to investigate to what extent CBA improves the selection decision of projects when uncertainties are taken into account, using a simulation-based approach on real data of infrastructure investments. The results indicate that, in line with previous literature, CBA is a rather robust tool and considerably increases the quality of decision making compared with a random selection mechanism, even when high levels of uncertainty are considered. Essay 4: Household Production and the Elasticity of Marginal Utility of Consumption. In Essay 4, I develop a new model to show that omission of household production in a previous model leads to bias when the elasticity of marginal utility of consumption, EMUC, is estimated. I further offer new, unbiased estimates based on current evidence of the included parameters, suggesting a lower bound of EMUC at about 0.9.

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Rongiconi, Thomas. "Application du modèle de l'espérance d'utilité au sens de Choquet à quelques préférences atypiques." Thesis, Paris 2, 2015. http://www.theses.fr/2015PA020092.

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Durant les dernières décennies, deux théories a priori contradictoires l’une avec l’autre,prétendent donner un fondement aux comportements des agents économiques. La théorie de la décision axiomatique, la plus ancienne cherche à décrire les comportements à partir du principe de rationalité, alors que l’économie comportementale se base principalement sur une analyse empirique et expérimentale. Cette thèse, prend le parti de réunir ces deux points de vues en mobilisant le concept de préférence incomplète. Leurs fléxibilités capturent de nombreux comportements observés lors des expériences, et leurs structures riches permettent une analyse normative. Dans cette optique, nous développons dans la première partie un modèle d’aversion au risque dynamique, en modélisant la notion de bienêtre par une relation de préférence incomplète. Nous montrons que le bien-être du décideur est représenté par deux psychologies contradictoires. La première traduit l’aversion au risque sur le long terme et, est représentée par le modèle de l’espérance d’utilité, la deuxième décrit une réaction plus émotionnelle face au risque, et est caractérisée par le modèle de l’espérance d’utilité au sens de Choquet. Dans la seconde partie, nous démontrons quelles sont les conditions comportementales, nécessaires et suffisantes permettant à une relation de préférences incomplète d’être représentée par l’intersection d’un ensemble de relation de préférences complètes vérifiant l’axiome de l’indépendance comonotone
In recent decades, two theories which seems contradictory, claim that they can provide abasis for the behavior of economic agents, i.e the theory of decision and the behavioral economics. We have tried, in this thesis to unite these two points of view by mobilizing the concept of incomplete preference. We develop in the first part a model of time varying risk aversion: we show that the Decision Maker anticipates that the passage of time will have an effect on him outlook. By modeling the notion of well-being with a incomplete preference,we show that the welfare of the decision maker is represented by two contradictory psychologies. The first reflects the risk aversion in the long term and is represented by the model of expected utility, the second describes a more emotional response to risk, and is characterized by the model of Choquet expected utility. In the second part, we identify the behavioral conditions, both necessary and sufficient, in which an incomplete preference relation could be represented by the intersection of a set of complete and transitive preference relation satisfying the axiom of comonotone independence

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Go, Cassandra Lim. "The Game's Afoot! Game Theory in Dashiell Hammett's The Maltese Falcon and Red Harvest." Scholarship @ Claremont, 2016. http://scholarship.claremont.edu/scripps_theses/835.

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Dashiell Hammett's The Maltese Falcon and Red Harvest are examples of iconic hard-boiled detective literature that reflect on the anxieties and tensions of the 1930s-1940s. With the Great Depression looming over these decades, the genre uses the hard-boiled detective as a way to communicate with and understand this time period. In our analysis of game theory, we look at how Dashiell Hammett's characters make decisions based on the actions of other players in the game, illustrating the influences of bargaining power and manipulation. With characters that oftentimes find themselves in situations where they must collude to reach maximum utility, the novels explore the various ways in which one player takes advantage of another, almost always leading towards the detective's best payoff. Game theory provides us with a unique method to looking at literature, hard-boiled fiction particularly, as a reflection of the historical period of its conception and prime.

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Bångman, Gunnel. "Equity in welfare evaluations : The rationale for and effects of distributional weighting." Doctoral thesis, Örebro University, Department of Business, Economics, Statistics and Informatics, 2006. http://urn.kb.se/resolve?urn=urn:nbn:se:oru:diva-309.

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This thesis addresses the issue of weighted cost-benefit analysis (WCBA). WCBA is a welfare evaluation model where income distribution effects are valued by distributional weighting. The method was developed already in the 1970s. The interest in and applications of this method have increased in the past decade, e.g. when evaluating of global environmental problems. There are, however, still unsolved problems regarding the application of this method. One such issue is the choice of the approach to the means of estimating of the distributional weights. The literature on WCBA suggests a couple of approaches, but gives no clues as to which one is the most appropriate one to use, either from a theoretical or from an empirical point of view. Accordingly, the choice of distributional weights may be an arbitrary one. In the first paper in this thesis, the consequences of the choice of distributional weights on project decisions have been studied. Different sets of distributional weights have been compared across a variety of strategically chosen income distribution effects. The distributional weights examined are those that correspond to the WCBA approaches commonly suggested in literature on the topic. The results indicate that the choice of distributional weights is of importance for the rank of projects only when the income distribution effects concern target populations with low incomes. The results also show that not only the mean income but also the span of incomes, of the target population of the income distribution effect, affects the result of the distributional weighting when applying very progressive non-linear distributional weights. This may cause the distributional weighting to indicate an income distribution effect even though the project effect is evenly distributed across the population.

One rational for distributional weighting, commonly referred to when applying WCBA, is that marginal utility of income is decreasing with income. In the second paper, this hypothesis is tested. My study contributes to this literature by employing stated preference data on compensated variation (CV) in a model flexible as to the functional form of the marginal utility. The results indicate that the marginal utility of income decreases linearly with income.

Under certain conditions, a decreasing marginal utility of income corresponds to risk aversion. Thus the hypothesis that marginal utility of income is decreasing with income can be tested by analyses of individuals’ behaviour in gambling situations. The third paper examines of the role of risk aversion, defined by the von Neumann-Morgenstern expected utility function, for people’s concern about the problem of ‘sick’ buildings. The analysis is based on data on the willingness to pay (WTP) for having the indoor air quality (IAQ) at home examined and diagnosed by experts and the WTP for acquiring an IAQ at home that is guaranteed to be good. The results indicate that some of the households are willing to pay for an elimination of the uncertainty of the IAQ at home, even though they are not willing to pay for an elimination of the risks for building related ill health. The probability to pay, for an elimination of the uncertainty of the indoor air quality at home, only because of risk aversion is estimated to 0.3-0.4. Risk aversion seems to be a more common motive, for the decision to pay for a diagnosis of the IAQ at home, among young people.

Another rationale for distributional weighting, commonly referred to, is the existence of unselfish motives for economic behaviour, such as social inequality aversion or altruism. In the fourth paper the hypothesis that people have altruistic preferences, i.e. that they care about other people’s well being, is tested. The WTP for a public project, that ensures good indoor air quality in all buildings, have been measured in three different ways for three randomly drawn sub-samples, capturing different motives for economic behaviour (pure altruism, paternalism and selfishness). The significance of different questions, and different motives, is analysed using an independent samples test of the mean WTPs of the sub-samples, a chi-square test of the association between the WTP and the sample group membership and an econometric analysis of the decision to pay to the public project. No evidence for altruism, either pure altruism or paternalism, is found in this study.

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Karlsson, Oskar, and Oskar Sjöbeck. "The use of SRI strategies and motivational factors : A case study among banks and fund companies." Thesis, Linnéuniversitetet, Institutionen för nationalekonomi och statistik (NS), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-96879.

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Background: In today's society, there is more pressure to be sustainable and not least in the financial world. Several agreements, such as the Paris Agreement, have been created to steer countries towards more sustainability. When it comes to the economy, several SRI strategies have been developed to serve the same purpose. However, the problem that emerges is that investors who invest sustainably and use these strategies can lose returns and thus depart from their main goal of maximizing profits. Purpose: The purpose of this paper is to examine how SRI strategies are used by investors when constructing their portfolios in terms of profit maximization. The paper will thus conclude if the underlying motivation behind the choice of strategy is affected by maximizing profit. Method and implementation: By conducting a qualitative study and interviewing several fund managers at the largest banks and fund companies in Sweden, the authors aim to answer the research question. The answers provided by the respondents are presented and analyzed in the empirical section and linked to the study's theory. Conclusion: In this study, there is clearly shown that by investing, according to SRI, a professional investor is still able to profit maximize. The authors, therefore, see that the new way of being rational as an investor is to include SRI strategies. The relationship with being both sustainable and profit-maximizing can be seen as a significant motivating factor. The same can be said about reduced ESG risk and creating legitimacy towards customers. Furthermore, a combination of strategies can be seen as a way to create an optimal portfolio by the investors. This further proves that sustainable investing is the most rational way of investing and a way to achieve an investors main goal to profit maximize.

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Lilja, Veronica, and Karin Isacsson. "Sport Sponsorship : Managing the relationship between a sponsor and a sponsee." Thesis, Luleå tekniska universitet, Institutionen för ekonomi, teknik och samhälle, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:ltu:diva-64793.

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Sports sponsorship accounts for the majority of global sponsorship revenue and is a mutually beneficial business relationship between two parties -the sponsor and the sponsee. The most successful sports sponsorships are based on a good relationship between the sports entity and its sponsor, however, the relationship between the sponsor and the sponsee is difficult to understand due to the lack oftheoretical and managerial implications of the area. Thus, the purpose of this thesis is to provide a better understanding of how sport entities and their existing sponsors manage their interorganizational relationship. In order to reach the stated purpose, research questions are derived focusing on the exchange and the maintenance of the sport sponsor relationship. Based on the research questions, an extensive literature review is conducted landing in a proposed conceptual framework. A qualitative case study approach is used to collect data through semi-structured interviews with two national and two international professional sports organizations. The result of the study shows how the existing relationship between sports organizations and their sponsors is managed. The most valued aspect in a sport sponsorship relationship is to develop a long-term partnership and that the parties involved are committed to the relationship and work actively to make it mutually beneficial. The sponsors are for the most partincluded in the activities of the sport entity, which posits high-quality communication as an essential tool in maintaining a successful relationship. In order to maximize the value generated from the offered benefits, the partners must be willing to utilize the full potential in participating in the sport entity’s various activities.

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Lee, Jae Min. "Households Saving and Reference Dependent Changes in Income and Uncertainty." The Ohio State University, 2014. http://rave.ohiolink.edu/etdc/view?acc_num=osu1408967943.

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Lindensjö, Kristoffer. "Essays in financial mathematics." Doctoral thesis, Handelshögskolan i Stockholm, Institutionen för Finansiell ekonomi, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:hhs:diva-2145.

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Lai, Xi, and 賴璽. "Analysis of Uncertainty in the Ordinal Marginal Utility Theory." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/yuf4w9.

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碩士
國立政治大學
財政學系
107
This paper used the ordinal marginal utility theory brought up by Chung-Cheng Lin (2015e) to discuss the decision-making in the face of uncertainty, and compares the analysis results with expected value theory, expected utility theory and prospect theory. The results show that the ordinal marginal utility theory can pass the test of three uncertainty problems (seeking or avoiding risks, differences in reference points, and loss aversion) in “Thinking, Fast and Slow” by Kahneman . From the new theoretical model established for the uncertainty problem and the analysis results of the three questions, the following conclusions can be drawn: (a) the ordinal marginal utility theory has more economic implications, and (b) for uncertainty the various possible decisions, the ordinal marginal utility theory can explain, rather than predict a single result. The discovery of the ordinal marginal utility theory may be a feasible method for analyzing uncertainty. The results of this study can be used as a guide to the application of ordinal marginal utility theory to explore uncertainty.

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Zheng, An-Hao, and 鄭安皓. "The Effect of Externality on Commodity Demand in the Ordinal Marginal Utility Theory." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/m38fr3.

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碩士
國立政治大學
財政學系
107
This paper uses ordinal marginal utility theory to discuss the effect of externalities on commodity demand and use the existing maximal total utility theory analysis as a comparison. It is concluded that the weakness of the previous ordinal total utility theory and the cardinal total utility theory can be solved under the theory of ordinal marginal utility.

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Wang, Chi-Ying, and 王琪瑛. "The Effect of the Public Goods on the Demand of Commodity in the Ordinal Marginal Utility Theory." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/3krvbm.

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碩士
國立政治大學
財政學系
107
In current economic theory, most of the analysis of public goods focus on how to find the optimum quantity of public goods. However, public goods can be seen everywhere in daily life and are closely related to the people. If the optimum quantity of public goods changes, consumers can be expected to have different psychological evaluations at this time, and then make different consumption decision. Therefore, in addition to finding the optimum quantity of public goods, studying the impact of public goods on consumption decision of private goods is an equally important and fundamental economic issue. This paper uses the ordinal total utility theory, the cardinal total utility theory and the ordinal marginal utility theory (the new theory) to explore the impact of the public goods on the demand of private commodity. The results of the study show that under the framework of maximizing total utility theory, the ordinal utility theory cannot adopt the concept of the law of diminishing marginal utility and the total utility cross-differential term, and besides, the special utility measurable properties of the cardinal utility theory is almost impossible to be established in real life. In contrast to the ordinal marginal utility theory which is advocated by Chung-Cheng Lin, it can not only correct the defects of the current economic theory but is more general in analysis. In other words, the ordinal marginal utility theory is a more reasonable economic theory.

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陳佑貞. "The Effect of the Value-Added Tax on the Quantity Demanded of Commodity in the Ordinal Marginal Utility Theory." Thesis, 2018. http://ndltd.ncl.edu.tw/handle/yx2jwv.

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碩士
國立政治大學
財政學系
106
This paper used the method of ordinal marginal utility theory brought up by Chung-Cheng Lin et al. to explore the impact of value-added tax (VAT) on the quantity demanded of commodity. Also, it compared with the theory of maximizing total utility to see difference. Comparing the two theories, the space for the above-mentioned issues will be explained. There are great differences, and it can be concluded that the ordinal marginal utility theory method can more accurately and reasonably explain the economic phenomenon than the maximizing total utility theory method. 　　Under the framework of maximizing total utility theory, modern economic theory adopts two main consumer utility theories, the ordinal utility theory and the cardinal utility theory. (hereafter referred to as the old theory)However, there are critical limitations in the two theories separately. For example, the former can't maintain the second derivative term after the positive monotonous transformation. The latter can only perform the positive linear transformation, and the added assumption is almost impossible to be established in real life.That is, Chung-Cheng Lin and his co-workers bring up a new utility theory which can combine the advantages of the old theories without their disadvantages, called the ordinal marginal utility theory. (hereafter referred to as the new theory) 　　The study of the effect of additional value added tax on the demand for consumer goods is a basic and important economic issue. It is based on this article's attempt to use new theories, and it is the first time in the research that uses the new theory to analyze the value added tax. The results of the study found a total of 19 possible causes will result in an increase in the tax rate and the demand for commodities. After that, this paper adopts the new theory (the ordinal marginal utility theory) as a framework for analysis, and found that there are a total of 119,190(or118,262) rough statistics which may cause the increase in tax rate to reduce (or increase) the demand for commodities. Although this figure will be different from the actual situation or the result of an accurate estimation, it still showed that in the world of new theories, the space in which economic phenomena can be explained by economic thinking will be greatly exploited. Next, this paper considers only one of the numerators and denominators, that is, under the simple collocation of the two forces, when the tax rate increases, a total of 25 (or 24) simple combinations will cause the demand of goods to decline (or rise). 　　In the end, this paper selects four combinations from the simple combination of the two forces mentioned above and sets specific models to examine them under the framework of the old and new theories separately. After the comparison, it can display that the new theory can indeed find more economic implications that have been lost or cannot be explored in old theories. From this perspective, ordinal marginal utility analysis is indeed better than maximizing total utility analysis.

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24

"Preference, production function, and equilibrium indeterminacy." 2006. http://library.cuhk.edu.hk/record=b5892966.

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Xu Nan.
Thesis (M.Phil.)--Chinese University of Hong Kong, 2006.
Includes bibliographical references (leaves 47-49).
Abstracts in English and Chinese.
Chapter 1. --- Introduction --- p.1
Chapter 2. --- Various Preference and Technology Specifications and Indeterminacy --- p.5
Chapter 2.1 --- CES Preference and Cobb-Douglas Technology --- p.7
Chapter 2.2 --- Separable Utility and CES Technology --- p.16
Chapter 2.3 --- Summary --- p.20
Chapter 3. --- Capacity Utilization and Indeterminacy --- p.20
Chapter 3.1 --- Separable Utility and Capacity Utilization --- p.21
Chapter 3.2 --- Non-separable Utility and Capacity Utilization --- p.26
Chapter 4. --- Production Depending on Average Consumption and Capital and Indeterminacy --- p.30
Chapter 4.1 --- Production Depending on Aggregate Consumption and Capital --- p.32
Chapter 4.2 --- Equivalence between the Two Settings --- p.36
Chapter 5 . --- Concluding Remarks --- p.39
Chapter 6. --- Appendix --- p.42
Chapter 6.1 --- Properties of CES Utility Function --- p.42
Chapter 6.2 --- Proof of Proposition 1 --- p.43
Chapter 6.3 --- Derivation of Production Function in Section 3 --- p.45
Chapter 6.4 --- Derivation of Depreciation Rate in subsection 3.2 --- p.46
References --- p.47

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25

Sango, Tatiana Dmitrievna. "Equilibrium problem in the transition from a centralized economy to a competitive market." Thesis, 2002. http://hdl.handle.net/10500/615.

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26

Rodenburg, Kathleen. "Choice Under Uncertainty: Violations of Optimality in Decision Making." Thesis, 2013. http://hdl.handle.net/10214/7245.

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This thesis is an investigation of how subjects behave in an individual binary choice decision task with the option to purchase or observe for free additional information before reaching a decision. In part 1 of this thesis, an investigative study is conducted with the intent to sharpen the view to literature concerning corresponding psychology and economics experiments designed to test decision tasks that involve purchasing and observing information from an imperfect message prior to taking a terminal action choice. This investigative study identifies areas of research that warrant further investigation as well as provides enhancements for execution in the subsequent experiment conducted in Part 2 & 3 of this thesis. In Part 2 & 3, I conduct an experiment to test how subjects behave in an individual binary choice decision task with the option to purchase or observe for free additional information before reaching a final decision. I find that subjects’ behaviour over time converges toward optimal decisions prior to observing an imperfect information signal. However, when subjects observe an imperfect information signal prior to their terminal choice there is greater deviation from optimal behaviour. I find in addition to behaviour that is reflective of a risk-neutral BEU maximizer, status quo bias, over-weighing the informational value of the message received and past statistically independent outcomes influencing future choices. The subjects’ willingness to pay (WTP) to use the additional information gathered from an imperfect message service when making a final decision was on average less than the risk neutral BEU willingness to pay benchmark. Moreover, as the informative value of the message increased, causing the BEU valuation to increase, subjects under-estimated the value of the message signal to a greater degree. Although risk attitudes may have influenced the subjects’ WTP decisions, it does not account for the increased conservative WTP behaviour when information became more valuable. Additionally, the findings from this study suggest that individuals adopt different decision rules depending on both personal attributes (i.e. skillset, gender, experience) and on the context and environment in which the decision task is conducted.
SSHRC grant: Social Sciences and Humanities Research Council via Dr. Bram Cadsby Professor Department of Economics, University of Guelph

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27

Murove, Munyaradzi Felix. "The theory of self-interest in modern economic discourse: a critical study in the light of African Humanism and process philosophical Anthropology." Thesis, 2005. http://hdl.handle.net/10500/629.

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Modern economic theory of self-interest alleges that in their economic relations people always behave in a way that maximises their utility. The idea whether human beings were solely self-interested has a long history as it can be seen from the writings of Greek philosophers and the Church fathers. Among Greek philosophers there were those who argued that human beings were naturally self-interested (Aristotle) and those who maintained that human beings were communal by nature (Plato, Stoics and the Pythagoreans). The later position was adopted by the Church fathers as they condemned self-interest as the sin of avarice and greed. The justification of self-interest in human and political activities was part and parcel of the economic and political early modernists, as it can be seen in the works of Mandeville, Hobbes, Hume and Adam Smith. In the writings of these thinkers, the flourishing of wealth depended on individual freedom to pursue their self-interests. In this regard, selfinterest became the sole source of motivation in the behaviour of homo economicus. A persistent motif in late modern economic discourse on self-interest is based on the idea that people think and act on the basis of that which is to their self-interest. It is mainly for this reason that late modern economic thinkers maintain that society would prosper when people are left alone to pursue their self-interests. Late modern economic theory of utility maximisation alleges that individuals act only after calculating costs and benefits. The argument of this thesis, based on the commonalities between African humanism and process philosophical anthropology, is that self-interest is antithetical to communal life as advocated in the ethic of Ubuntu. One who acts solely on the basis of maximising his or her utility would inevitably deprive others of a humane existence. A holistic metaphysical outlook based on the relatedness and interrelatedness of everything that exists as we find it in African humanism and process philosophical anthropology implies that the individual exists in internal relations with everything else. We should go beyond selfinterest by giving primacy to a holistic ethic.
Systematic Theology & Theological Ethics
D. Div. (Theological Ethics)

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Dissertations / Theses on the topic 'Marginal utility. Utility theory. Economics'

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