IDEAS home Printed from https://ideas.repec.org/a/kap/theord/v64y2008i1p37-63.html
   My bibliography  Save this article

On Ordinal Utility, Cardinal Utility and Random Utility

Author

Listed:
  • Richard Batley

Abstract

No abstract is available for this item.

Suggested Citation

  • Richard Batley, 2008. "On Ordinal Utility, Cardinal Utility and Random Utility," Theory and Decision, Springer, vol. 64(1), pages 37-63, February.
    • Handle: RePEc:kap:theord:v:64:y:2008:i:1:p:37-63
    DOI: 10.1007/s11238-007-9046-2
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s11238-007-9046-2
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s11238-007-9046-2?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Small, Kenneth A & Rosen, Harvey S, 1981. "Applied Welfare Economics with Discrete Choice Models," Econometrica, Econometric Society, vol. 49(1), pages 105-130, January.
    2. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74(2), pages 132-132.
    3. John K. Dagsvik & Anders Karlström, 2005. "Compensating Variation and Hicksian Choice Probabilities in Random Utility Models that are Nonlinear in Income," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 72(1), pages 57-76.
    4. John K. Dagsvik, 2001. "Compensated Variation in Random Utility Models," Discussion Papers 299, Statistics Norway, Research Department.
    5. Daniel L. McFadden, 1976. "Quantal Choice Analysis: A Survey," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 5, number 4, pages 363-390, National Bureau of Economic Research, Inc.
    6. H C W L Williams, 1977. "On the Formation of Travel Demand Models and Economic Evaluation Measures of User Benefit," Environment and Planning A, , vol. 9(3), pages 285-344, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jérôme Massiani, 2024. "Lost in Taxation," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 10(1), pages 81-124, March.
    2. Collewet, Marion & Koster, Paul, 2023. "Preference estimation from point allocation experiments," Journal of choice modelling, Elsevier, vol. 48(C).
    3. Ryan Webb, 2019. "The (Neural) Dynamics of Stochastic Choice," Management Science, INFORMS, vol. 65(1), pages 230-255, January.
    4. Francisco Amador & Elisabetta Cherchi, 2011. "Econometric Effects of Utility Order-Preserving Transformations in Discrete Choice Models," Networks and Spatial Economics, Springer, vol. 11(3), pages 419-438, September.
    5. Batley, Richard & Hess, Stephane, 2016. "Testing for regularity and stochastic transitivity using the structural parameter of nested logit," Transportation Research Part B: Methodological, Elsevier, vol. 93(PA), pages 355-376.
    6. Guzman, Luis A. & Cantillo-Garcia, Victor A. & Oviedo, Daniel & Arellana, Julian, 2023. "How much is accessibility worth? Utility-based accessibility to evaluate transport policies," Journal of Transport Geography, Elsevier, vol. 112(C).
    7. 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.
    8. Ibrahim Niankara & Muhammad Noor Al adwan & Aminata Niankara, 2020. "The Role of Digital Media in Shaping Youth Planetary Health Interests in the Global Economy," JOItmC, MDPI, vol. 6(3), pages 1-26, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Delle Site, Paolo & Salucci, Marco Valerio, 2013. "Transition choice probabilities and welfare analysis in random utility models with imperfect before–after correlation," Transportation Research Part B: Methodological, Elsevier, vol. 58(C), pages 215-242.
    2. Font, Antoni Riera, 2000. "Mass Tourism and the Demand for Protected Natural Areas: A Travel Cost Approach," Journal of Environmental Economics and Management, Elsevier, vol. 39(1), pages 97-116, January.
    3. Stephane Hess & Andrew Daly & Richard Batley, 2018. "Revisiting consistency with random utility maximisation: theory and implications for practical work," Theory and Decision, Springer, vol. 84(2), pages 181-204, March.
    4. Fritzsche, Bernd & Haisken-DeNew, John & Kambeck, Rainer & Siemers, Lars-H. R. & Bergs, Christian & Fuest, Clemens & Peichl, Andreas & Schaefer, Thilo & Thöne, Michael, 2007. "Der Zusammenhang zwischen Steuerlast- und Einkommensverteilung: Forschungsprojekt für das Bundesministerium für Arbeit und Soziales. Endbericht - Dezember 2007," RWI Projektberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, number 70874.
    5. Samir Ghazouani & Mohamed Goaïed, 1993. "Analyse micro-économétrique de la demande de transport urbain pour la ville de Tunis," Économie et Prévision, Programme National Persée, vol. 108(2), pages 47-62.
    6. Rachel Griffith & Lars Nesheim & Martin O'Connell, 2018. "Income effects and the welfare consequences of tax in differentiated product oligopoly," Quantitative Economics, Econometric Society, vol. 9(1), pages 305-341, March.
    7. Anas, Alex & Chang, Huibin, 2023. "Productivity benefits of urban transportation megaprojects: A general equilibrium analysis of «Grand Paris Express»," Transportation Research Part B: Methodological, Elsevier, vol. 174(C).
    8. Viauroux, Christelle, 2007. "Structural estimation of congestion costs," European Economic Review, Elsevier, vol. 51(1), pages 1-25, January.
    9. Richard Batley & Thijs Dekker, 2019. "The Intuition Behind Income Effects of Price Changes in Discrete Choice Models, and a Simple Method for Measuring the Compensating Variation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(1), pages 337-366, September.
    10. Mora Rodriguez, Jhon James, 2013. "Introduccion a la teoría del consumidor [Introduction to Consumer Theory]," MPRA Paper 48129, University Library of Munich, Germany, revised 08 Jul 2013.
    11. Hörcher, Daniel & Graham, Daniel J., 2020. "MaaS economics: Should we fight car ownership with subscriptions to alternative modes?," Economics of Transportation, Elsevier, vol. 22(C).
    12. Mandy Ryan & Verity Watson, 2009. "Comparing welfare estimates from payment card contingent valuation and discrete choice experiments," Health Economics, John Wiley & Sons, Ltd., vol. 18(4), pages 389-401, April.
    13. Danny Campbell & George Hutchinson & Riccardo Scarpa & Tomás O’Leary & Art McCormack & Brendan Riordan, 2006. "Quantifying the landscape benefits arising from the Rural Environment Protection Scheme: results from a public survey," Working Papers 0608, Rural Economy and Development Programme,Teagasc.
    14. Benedict G. C. Dellaert, 2019. "The consumer production journey: marketing to consumers as co-producers in the sharing economy," Journal of the Academy of Marketing Science, Springer, vol. 47(2), pages 238-254, March.
    15. Paul Koster & Erik T. Verhoef & Simon Shepherd & David Watling, 2014. "Probabilistic Choice and Congestion Pricing with Heterogeneous Travellers and Price-Sensitive Demand," Tinbergen Institute Discussion Papers 14-078/VIII, Tinbergen Institute, revised 13 Nov 2014.
    16. Swait, J. & de Bekker-Grob, E.W., 2022. "A discrete choice model implementing gist-based categorization of alternatives, with applications to patient preferences for cancer screening and treatment," Journal of Health Economics, Elsevier, vol. 85(C).
    17. Yusuke Kono & Kenetsu Uchida & Katia Andrade, 2014. "Economical welfare maximisation analysis: assessing the use of existing Park-and-Ride services," Transportation, Springer, vol. 41(4), pages 839-854, July.
    18. Espino, Raquel & de Dios Ortúzar, Juan & Román, Concepción, 2007. "Understanding suburban travel demand: Flexible modelling with revealed and stated choice data," Transportation Research Part A: Policy and Practice, Elsevier, vol. 41(10), pages 899-912, December.
    19. Regier, Dean A. & Watson, Verity & Burnett, Heather & Ungar, Wendy J., 2014. "Task complexity and response certainty in discrete choice experiments: An application to drug treatments for juvenile idiopathic arthritis," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 50(C), pages 40-49.
    20. Lizin, Sebastien & Van Passel, Steven & Schreurs, Eloi, 2015. "Farmres' Perceived Cost of Land Use restrictions: A Simulated Purchasing Decision Using Dscrete Choice Experiments," 2015 Conference, August 9-14, 2015, Milan, Italy 212054, International Association of Agricultural Economists.

    More about this item

    Keywords

    Ordinal utility; Cardinal utility; Random Utility Model; Log sum; Rule-of-a-half; B41 Economic Methodology; D01 Microeconomic Behaviour; Underlying Principles;
    All these keywords.

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:theord:v:64:y:2008:i:1:p:37-63. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.