History of Utility Theory

21 Pages Posted: 5 Feb 2020

See all articles by Ivan Moscati

Ivan Moscati

University of Insubria - Department of Economics; London School of Economics & Political Science (LSE) - Centre for Philosophy of Natural and Social Science (CPNSS)

Date Written: February 1, 2020

Abstract

The notion of utility began playing the central role in economic theory that it has maintained until today in the early 1870s, when it was used to explain the exchange value of commodities, that is, the ratio at which one commodity exchanges with other commodities or, in modern term, its relative price.

Suggested Citation

Moscati, Ivan, History of Utility Theory (February 1, 2020). BAFFI CAREFIN Centre Research Paper No. 2020-129, Available at SSRN: https://ssrn.com/abstract=3530949 or http://dx.doi.org/10.2139/ssrn.3530949

Ivan Moscati (Contact Author)

University of Insubria - Department of Economics ( email )

Via Monte Generoso 71
Varese, 21100
Italy

London School of Economics & Political Science (LSE) - Centre for Philosophy of Natural and Social Science (CPNSS) ( email )

United Kingdom

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