
handle: 10419/59988
The study tests the cardinal utility maximization hypothesis by an experimental procedure in a framework of utility scaling approach following the psychophysical-econometric paradigm, conceived in He (Psychophysical Interpretation for Utility Measures, 2011). It reveals (i) the utility maximization can be tested and has been supported by experimental results; (ii) the utility scaling approach following the psychophysical econometric paradigm offers a new foundation to discuss the utility concept; and (iii) it is necessary to distinguish the perception utility and emotion utility to respectively describe economic choices and enjoyment choices.
Klein-Rubin utility function, utility maximization,experiment,Klein-Rubin utility function,perception utility,emotion utility, experiment, ddc:330, emotion utility, Social Sciences, utility maximization, perception utility, H, Economics as a science, A10, D01, HB71-74, jel: jel:A10, jel: jel:D01
Klein-Rubin utility function, utility maximization,experiment,Klein-Rubin utility function,perception utility,emotion utility, experiment, ddc:330, emotion utility, Social Sciences, utility maximization, perception utility, H, Economics as a science, A10, D01, HB71-74, jel: jel:A10, jel: jel:D01
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