Utility, Games, and Narratives

38 Pages Posted: 28 Aug 2009 Last revised: 15 Mar 2011

Date Written: March 11, 2011


This paper provides a general overview of theories and tools to model individual and collective decision-making. In particular, stress is laid on the interaction of several decision-makers.

A substantial part of this paper is devoted to utility maximization and its application to collective decision-making, Game Theory. However, the pitfalls of utility maximization are thoroughly discussed, and the radically alternative approach of viewing decision-making as constructing narratives is presented with its emerging computational tools.

Keywords: Interactions, Collective Decision-Making

JEL Classification: C69, C79

Suggested Citation

Fioretti, Guido, Utility, Games, and Narratives (March 11, 2011). Available at SSRN: https://ssrn.com/abstract=1462693 or http://dx.doi.org/10.2139/ssrn.1462693

Guido Fioretti (Contact Author)

University of Bologna ( email )

Via Capo di Lucca 34
Bologna, 40126

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