Mas-Colell, Whinston and Green Versus Scitovsky on Profit and Utility Maximization
I contrast the theoretical foundation of profit maximization of Mas-Colell, Whinston and Greenٳ ܍icroeconomicsݠagainst that provided by Scitovsky in a paper of 1943. Whereas Mas-Colell, Whinston and Green try to show that profit maximization can be derived from utility maximization, Scitovsky categorically states the contrary view. I argue, first, that the foundation provided by Mas-Colell, Whinston and Green is not sound and, secondly, that Scitovskyٳ line of reasoning opens a better way to model business behavior.
|Date of creation:||2005|
|Contact details of provider:|| Postal: Avenida Lehendakari Aguirre, 83, 48015 Bilbao|
Web page: http://www.ehu.es/fundamentosI/
More information through EDIRC
|Order Information:|| Postal: Dpto. de Fundamentos del Análisis Económico I, Facultad de CC. Económicas y Empresariales, Universidad del País Vasco, Avda. Lehendakari Aguirre 83, 48015 Bilbao, Spain|
When requesting a correction, please mention this item's handle: RePEc:ehu:ikerla:200520. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alcira Macías Redondo)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.