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Utility Maximization, Choice and Preference
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304 b
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A classically rational subject is a maximiser: he chooses the best alternative(s) according to some utility function, a paradigm going back to the eighteenth century. One of the ways to overcome its well-known deficiences is to extend it to take into account insenitivity threshold as well as the context of choice.§This book gives a systematic overview on the extended utility maximisation theory covering the classic theory, the theory of utility maximisation within a context-free or context-dependent threshold, and the related preference and choice models.§The presented models will be helpful to specialists in economics, decision making theory,social choice theory, behavioral and cognitive sciences, and related fields.
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