Reference-Dependence and Marginal Utility: Alt, Samuelson, and Bernardelli

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11620%2F14%3A10281998" target="_blank" >RIV/00216208:11620/14:10281998 - isvavai.cz</a>
Result on the web
<a href="http://dx.doi.org/10.1215/00182702-2815611" target="_blank" >http://dx.doi.org/10.1215/00182702-2815611</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1215/00182702-2815611" target="_blank" >10.1215/00182702-2815611</a>

Result language
angličtina
Original language name
Reference-Dependence and Marginal Utility: Alt, Samuelson, and Bernardelli
Original language description
This article shows that the possibility of formally incorporating reference-dependence into the theory of consumer behavior was explored well before Kahneman and Tversky in the early 1990s; specifically, in separate papers by Alt, Samuelson, and Bernardelli in the late 1930s. These papers emerged within a debate on the relationship between marginal utility and the ordinality/cardinality of utility. The present article identifies Alt's, Samuelson's, and Bernardelli's contributions and delineates the relationship between marginal utility and reference-dependence. It also discusses the reception of their ideas by other economists and suggests some reasons for their neglect.
Czech name
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Czech description
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Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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