Cardinalism
Abstract
Cardinalism has been dismissed by neoclassical economics, leading to an impoverished view of the nature of preferences. In this chapter, we analyze how to ground cardinalism in a classical representational strategy, possibly richer than von Neumann-Morgenstern cardinal utility functions specific to the expected utility framework. We also investigate the possibility of an enriched informational basis allowing, besides choice-data, reliable introspective judgments. We analyze different possible levels of cardinalism, trying to assign a subjective signification to utility functions. We analyze, in particular, the tension between considering utility functions as being induced from axiomatic structures of preferences and ...
Get The Mind under the Axioms now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
