Theory and Decision 68 (1-2):5-24 (2010)
Abstract |
This article argues that there is a natural solution to carry out interpersonal comparisons of utility when the theory of gambles is supplemented with a group operation of joint receipts. If so, three types of people can exist, and the two types having multiplicative representations of joint receipt have, in contrast to most utility theories, absolute scales of utility. This makes possible, at least in principle, meaningful interpersonal comparisons of utility with desirable properties, thus resolving a long standing philosophical problem and having potentially important implications in economics. Two behavioral criteria are given for the three classes of people. At this point the relative class sizes are unknown
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Keywords | Interpersonal comparison of utility Joint receipt p-Additive utility Welfare economics Weighted utility |
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DOI | 10.1007/s11238-009-9138-2 |
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References found in this work BETA
Rational Behaviour and Bargaining Equilibrium in Games and Social Situations.John C. Harsanyi - 1986 - Cambridge University Press.
Are Interpersonal Comparisons of Utility Indeterminate?Christian List - 2003 - Erkenntnis 58 (2):229 - 260.
Interpersonal Comparisons of Well-Being.Jon Elster & John E. Roemer (eds.) - 1991 - Cambridge University Press.
Interpersonal Comparisons of Utility: Why and How They Are and Should Be Made.Peter J. Hammond - 1991 - In Jon Elster & John E. Roemer (eds.), Interpersonal Comparisons of Well-Being. Cambridge University Press. pp. 200--254.
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Citations of this work BETA
How Variant Are Subjective Representations of Described and Experienced Risk and Rewards?David Kellen, Thorsten Pachur & Ralph Hertwig - 2016 - Cognition 157:126-138.
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