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Cardinalism pp 65-103 | Cite as

Cardinal Utility

History, Empirical Findings, and Applications. An Overview
Chapter
Part of the Theory and Decision Library book series (TDLA, volume 19)

Abstract

The purpose of this paper is to present briefly an overview on the concept of cardinal utility in its relations with the literature since the beginning of the 18th century (Part I); an estimate of the cardinal utility function for its negative values, thus completing the estimate of this function for its positive values given in my 1984 Venice paper (Part II); and finally different applications on the one hand to the theory of choices in the presence of risk and on the other hand to the wealth transfer problem, applications which imply the knowledge of the negative as well as the positive values of the cardinal utility function.

Keywords

Insurance Policy Interpolation Formula Lottery Ticket Wealth Transfer Interpersonal Comparison 
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