I would like to thank John Davis, Floris Heukelom, Garrett Milam, Ivan Moscati, Barkley Rosser, Esther-Mirjam Sent, Robert Sugden and a number of anonymous referees for helpful comments on earlier versions of this paper. What remains is of course solely the author's responsibility.
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BACK TO THE ORDINALIST REVOLUTION: BEHAVIORAL ECONOMIC CONCERNS IN EARLY MODERN CONSUMER CHOICE THEORY
Article first published online: 29 NOV 2010
DOI: 10.1111/j.1467-999X.2010.04115.x
© 2010 Blackwell Publishing Ltd
Additional Information
How to Cite
Hands, D. W. (2011), BACK TO THE ORDINALIST REVOLUTION: BEHAVIORAL ECONOMIC CONCERNS IN EARLY MODERN CONSUMER CHOICE THEORY. Metroeconomica, 62: 386–410. doi: 10.1111/j.1467-999X.2010.04115.x
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I would like to thank John Davis, Floris Heukelom, Garrett Milam, Ivan Moscati, Barkley Rosser, Esther-Mirjam Sent, Robert Sugden and a number of anonymous referees for helpful comments on earlier versions of this paper. What remains is of course solely the author's responsibility.
Publication History
- Issue published online: 21 MAR 2011
- Article first published online: 29 NOV 2010
- (July 2009; revised September 2010)
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ABSTRACT
The paper argues that theoretical work on consumer choice theory during the early 20th century addressed some of the same issues discussed in recent behavioral economics. This is not generally recognized because the discussion was tied up with the integrability question, the theoretical framework did not involve risky choice or expected utility theory, and the relevant evidence was introspective rather than experimental. The paper makes the case for the similarity and discusses why it is important.