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On Ordinal Utility, Cardinal Utility and Random Utility

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  • Richard Batley

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    File URL: http://hdl.handle.net/10.1007/s11238-007-9046-2
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    Bibliographic Info

    Article provided by Springer in its journal Theory and Decision.

    Volume (Year): 64 (2008)
    Issue (Month): 1 (February)
    Pages: 37-63

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    Handle: RePEc:kap:theord:v:64:y:2008:i:1:p:37-63

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    Web page: http://www.springerlink.com/link.asp?id=100341

    Related research

    Keywords: Ordinal utility; Cardinal utility; Random Utility Model; Log sum; Rule-of-a-half; B41 Economic Methodology; D01 Microeconomic Behaviour; Underlying Principles;

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    References

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    1. Small, Kenneth A & Rosen, Harvey S, 1981. "Applied Welfare Economics with Discrete Choice Models," Econometrica, Econometric Society, vol. 49(1), pages 105-30, January.
    2. John K. Dagsvik, 2001. "Compensated Variation in Random Utility Models," Discussion Papers 299, Research Department of Statistics Norway.
    3. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132.
    4. H C W L Williams, 1977. "On the formation of travel demand models and economic evaluation measures of user benefit," Environment and Planning A, Pion Ltd, London, vol. 9(3), pages 285-344, March.
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    Cited by:
    1. Batley, Richard & Ibáñez, J. Nicolás, 2012. "Randomness in preference orderings, outcomes and attribute tastes: An application to journey time risk," Journal of choice modelling, Elsevier, vol. 5(3), pages 157-175.

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