Copyright

Martin Osborne; Ariel Rubinstein

Published On

2023-06-26

Page Range

pp. 3–16

Language

  • English

Print Length

13 pages

Preferences and utility

Chapter of: Models in Microeconomic Theory: Expanded Second Edition (She)(pp. 3–16)
This chapter discusses a model of preferences over an arbitrary set of alternatives. We regard an individual’s preferences as a description of her mental attitude, outside the context of any choice. This chapter investigates an individual’s preference relation, a formal concept that describes her mental attitude to all relevant alternatives.

Contributors

Martin J. Osborne

(author)
Professor Emeritus of Economics at University of Toronto
https://orcid.org/0000-0001-8584-6176

Ariel Rubinstein

(author)
Emeritus in School of Economics at Tel Aviv University
Professor of Economics at New York University
https://orcid.org/0000-0003-1574-2659