ordinal utility theory

GPTKB entity

Statements (18)
Predicate Object
gptkbp:instanceOf gptkb:economic_policy
gptkbp:assumes utility can be ranked
gptkbp:basisFor gptkb:indifference_curve_analysis
gptkbp:compatibleWith numerical measurement of utility
utility can be measured in absolute terms
gptkbp:contrastsWith gptkb:cardinal_utility_theory
gptkbp:describes consumer preferences
gptkbp:field microeconomics
gptkbp:focusesOn order of preferences
https://www.w3.org/2000/01/rdf-schema#label ordinal utility theory
gptkbp:introduced gptkb:Hicks
gptkb:Pareto
gptkb:Allen
gptkbp:popularizedBy 20th century
gptkbp:replacedBy cardinal utility theory in mainstream economics
gptkbp:usedIn consumer choice theory
gptkbp:bfsParent gptkb:revealed_preference_theory
gptkbp:bfsLayer 5