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The Problem with Utility: Toward a Non-consequentialist/Utility Theory Synthesis

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Minkler, Lanse

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Abstract

I develop the argument that our current decision-making framework, utility theory, when used by itself, is 1) descriptively incomplete, 2) theoretically flawed, and 3) ethically questionable. In response, I offer an exploratory framework that incorporates both consequentialist and non-consequentialist motivations. Adding a commitment function provides a synthesis which remedies the problems associated with the sole use of utility theory. Finally, I show how philosophers Immanuel Kant, W. D. Ross, and Martin Buber provide an ethical basis for the framework. Copyright 1999 by Taylor and Francis Group

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Article provided by Taylor and Francis Journals in its journal Review of Social Economy.

Volume (Year): 57 (1999)
Issue (Month): 1 (March)
Pages: 4-24
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Handle: RePEc:taf:rsocec:v:57:y:1999:i:1:p:4-24

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  1. Mark White, 2006. "A Kantian critique of neoclassical law and economics," Review of Political Economy, Taylor and Francis Journals, vol. 18(2), pages 235-252, April. [Downloadable!] (restricted)
  2. Lanse P. Minkler & Thomas J. Miceli, 2002. "Lying, Integrity, and Cooperation," Working papers 2002-39, University of Connecticut, Department of Economics. [Downloadable!]
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This page was last updated on 2008-8-31.


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