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Choice - Based Cardinal Utility. A Tribute to Patrick Suppes

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  • Mongin , Philippe
  • Baccelli , Jean

Abstract

We reexamine some of the classic problems connected with the use of cardinal utility functions in decision theory, and discuss Patrick Suppes's contributions to this field in light of a reinterpretation we propose for these problems. We analytically decompose the doctrine of ordinalism, which only accepts ordinal utility functions, and distinguish between several doctrines of cardinalism, depending on what components of ordinalism they specifically reject. We identify Suppes's doctrine with the major deviation from ordinalism that conceives of utility functions as representing preference differences, while being nonetheless empirically related to choices. We highlight the originality, promises and limits of this choice-based cardinalism.

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  • Mongin , Philippe & Baccelli , Jean, 2016. "Choice - Based Cardinal Utility. A Tribute to Patrick Suppes," HEC Research Papers Series 1125, HEC Paris.
    • Handle: RePEc:ebg:heccah:1125
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    Cited by:

    1. Edi Karni & John A. Weymark, 2024. "Impartiality and relative utilitarianism," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 63(1), pages 1-18, August.
    2. Georgios Gerasimou, 2019. "Simple Preference Intensity Comparisons," Discussion Paper Series, School of Economics and Finance 201905, School of Economics and Finance, University of St Andrews, revised 27 Apr 2020.
    3. Moscati, Ivan, 2021. "On the recent philosophy of decision theory," LSE Research Online Documents on Economics 115039, London School of Economics and Political Science, LSE Library.
    4. Jean Baccelli & Marcus Pivato, 2021. "Philippe Mongin (1950–2020)," Theory and Decision, Springer, vol. 90(1), pages 1-9, February.
    5. Georgios Gerasimou, 2017. "Preference intensity representation and revelation," Discussion Paper Series, School of Economics and Finance 201716, School of Economics and Finance, University of St Andrews, revised 01 Jun 2019.

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    More about this item

    Keywords

    Ordinal utility; Cardinal utility; Preference differences; Representation theorems; Suppes; Ordinalism; Cardinalism;
    All these keywords.

    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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