On an axiomatic approach to measurable utility
This thesis presents an axiomatic approach to the derivation of a set of conditions for a measurable utility to exist. Utility refers to the value one assigns to a certain commodity. When one is faced with having to decide between or among two of more commodities, the assignment of utilities to each...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
| Published: |
Animo Repository
1995
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| Subjects: | |
| Online Access: | https://animorepository.dlsu.edu.ph/etd_bachelors/16259 |
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| Institution: | De La Salle University |
| Language: | English |
| Summary: | This thesis presents an axiomatic approach to the derivation of a set of conditions for a measurable utility to exist. Utility refers to the value one assigns to a certain commodity. When one is faced with having to decide between or among two of more commodities, the assignment of utilities to each will enable the decision maker to express his preferences for the given commodities. By measurable utility, therefore, we refer to a real-valued, order-preserving. We will present a set of criteria that will determine if a given utility is measurable.The axioms and theorems in this thesis are from the article An Axiomatic Approach to Measurable Utility by Ian Herstein and John Milnor. |
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