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A classically rational subject is a maximiser: he chooses the best alternative(s) according to some utility function, a paradigm going back to the eighteenth century. One of the ways to overcome its well-known deficiences is to extend it to take into account insenitivity threshold as well as the...
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The utility maximization paradigm forms the basis of many economic, psychological, cognitive and behavioral models. However, numerous examples have revealed the deficiencies of the concept. This book helps to overcome those deficiencies by taking into account insensitivity of measurement...
Persistent link: https://www.econbiz.de/10013520742
In practice it is quite customary that an alternative is evaluated by means of n ≥ 2 grades x1, ..., xn, each of which taking an integer value from 1 («bad») to m ≥ 3 («perfect»). Thus, a problem arises to rank the set X of all n-dimensional vectors x with integer components from 1 to m....
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