Business & Economics Books:

Measuring Utility

From the Marginal Revolution to Behavioral Economics


Paperback / softback

Customer rating

Click to share your rating 0 ratings (0.0/5.0 average) Thanks for your vote!

Share this product

Measuring Utility by Ivan Moscati
41% off
$51.99 was $88.99
or 4 payments of $13.00 with Learn more

Pre-order to reserve stock from our first shipment. Your credit card will not be charged until your order is ready to ship.

Available for pre-order now
Pre-order Price Guarantee

If you pre-order an item and the price drops before the release date, you’ll pay the lowest price. This happens automatically when you pre-order and pay by credit card.

If paying by PayPal or internet banking, and the price drops after you have paid, you can ask for the difference to be refunded. Find out more

If Mighty Ape's price changes before release, you'll pay the lowest price.


This product will be released on

Delivering to:

It should arrive:

  • 4-6 December using standard courier delivery


Utility is a key concept in the economics of individual decision-making. However, utility is not measurable in a straightforward way. As a result, from the very beginning there has been debates about the meaning of utility as well as how to measure it. This book is an innovative investigation of how these arguments changed over time. Measuring Utility reconstructs economists' ideas and discussions about utility measurement from 1870 to 1985, as well as their attempts to measure utility empirically. The book brings into focus the interplay between the evolution of utility analysis, economists' ideas about utility measurement, and their conception of what measurement in general means. It also explores the relationships between the history of utility measurement in economics, the history of the measurement of sensations in psychology, and the history of measurement theory in general. Finally, the book discusses some methodological problems related to utility measurement, such as the epistemological status of the utility concept and its measures. The first part covers the period 1870-1910, and discusses the issue of utility measurement in the theories of Jevons, Menger, Walras and other early utility theorists. Part II deals with the emergence of the notions of ordinal and cardinal utility during the period 1900-1945, and discusses two early attempts to give an empirical content to the notion of utility. Part III focuses on the 1945-1955 debate on utility measurement that was originated by von Neumann and Morgenstern's expected utility theory (EUT). Part IV reconstructs the experimental attempts to measure the utility of money between 1950 and 1985 within the framework provided by EUT. This historical and epistemological overview provides keen insights into current debates about rational choice theory and behavioral economics in the theory of individual decision-making and the philosophy of economics.

Author Biography

Ivan Moscati is Associate Professor of Economics at the University of Insubria, Varese, and teaches History of Economics at Bocconi University, Milan. His articles have been published in a range of journals in economics, history of economic thought, and economic methodology, and one of them was awarded the Best Article Award of the History of Economics Society.
Release date Australia
November 30th, 2018
Country of Publication
United Kingdom
Oxford University Press
Product ID

Customer previews

Nobody has previewed this product yet. You could be the first!

Write a Preview

Help & options

  • If you think we've made a mistake or omitted details, please send us your feedback. Send Feedback
  • If you have a question or problem with this product, visit our Help section. Get Help
  • Seen a lower price for this product elsewhere? We'll do our best to beat it. Request a better price
Filed under...