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Notes On The Theory Of Choice (Hardcover)
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Notes On The Theory Of Choice (Hardcover)
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In this book, Professor Kreps presents a first course on the basic
models of choice theory that underlie much of economic theory. This
course, taught for several years at the Graduate School of
Business, Stanford University, gives the student an introduction to
the axiomatic method of economic analysis, without placing too
heavy a demand on mathematical sophistication.The course begins
with the basics of choice and revealed preference theory and then
discusses numerical representations of ordinal preference. Models
with uncertainty come next: First is von Neumann?Morgenstern
utility, and then choice under uncertainty with subjective
uncertainty, using the formulation of Anscombe and Aumann, and then
sketching the development of Savage's classic theory. Finally, the
course delves into a number of special topics, including de
Finetti's theorem, modeling choice on a part of a larger problem,
dynamic choice, and the empirical evidence against the classic
models.
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