12. Utility and Group Preference

  1. James R. Thompson

Published Online: 29 NOV 2011

DOI: 10.1002/9781118109656.ch12

Empirical Model Building: Data, Models, and Reality, Second Edition

Empirical Model Building: Data, Models, and Reality, Second Edition

How to Cite

Thompson, J. R. (2011) Utility and Group Preference, in Empirical Model Building: Data, Models, and Reality, Second Edition, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9781118109656.ch12

Publication History

  1. Published Online: 29 NOV 2011
  2. Published Print: 24 OCT 2011

ISBN Information

Print ISBN: 9780470467039

Online ISBN: 9781118109656

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Keywords:

  • group preference;
  • St. Petersburg paradox;
  • von Neumann-Morgenstern;
  • aggregate choice behavior;
  • Jeffersonian realities

Summary

This chapter contains sections titled:

  • Introduction

  • The St. Petersburg Paradox

  • von Neumann–Morgenstern Utility

  • Creating a St. Petersburg Trust

  • Some Problems with Aggregate Choice Behavior

  • Jeffersonian Realities

  • Conclusions