The Causal Theory of Action based utility and consumer surplus
Keywords:
Causal Theory of Action; utility; consumer surplus; Tversky; normative theory: similarity; risk aversion; beliefs; price levels; Nea work; Hopf algebra of Nea work; pricing techniques.
Abstract
The objective of this paper is to introduce the Causal Theory of Action,
(CTA) based utility and consumer surplus, and compare it to the standard
utility and consumer surplus that is based on Tversky's normative theory
of choice. In addition to utility and consumer surplus, price level setting
is also altered based on the (CTA). (CTA) based pricing is introduced.
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References
[1] Marshall, A. Principals of Economics, Pulgrave Classics publishers, Eight edition,
England 1920.
[2] Child, W. Causality, Interpretation and the Mind, Clarendon Press, Oxford 1994.
[3] Davidson, D. Causal relations, Journal of Philosophy, vol.(64), 1967.
[4] Mellor, D. H. The Facts of Causation, Routledge Publishers, England, digital
printing 2006.
[5] Tversky, A. The Essential Tversky, The MIT Press, Cambridge Massachusetts,
USA. 2018.
[6] Hicks, J.R. Value and Capital: An inquiry into some fundamental principals of
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[7] Underwood, R.G. An Introduction to Hopf Algebras, Springer New York, USA.
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[9] Gelfand, I.M., Minlos, R.A., Shapiro, Z.Ya. Representations of the Rotation and
Lorentz Groups and Their Applications, Dover Publications, Inc., New York,
USA. 2018.
England 1920.
[2] Child, W. Causality, Interpretation and the Mind, Clarendon Press, Oxford 1994.
[3] Davidson, D. Causal relations, Journal of Philosophy, vol.(64), 1967.
[4] Mellor, D. H. The Facts of Causation, Routledge Publishers, England, digital
printing 2006.
[5] Tversky, A. The Essential Tversky, The MIT Press, Cambridge Massachusetts,
USA. 2018.
[6] Hicks, J.R. Value and Capital: An inquiry into some fundamental principals of
economic theory, Oxford university press, Second edition, England 1946.
[7] Underwood, R.G. An Introduction to Hopf Algebras, Springer New York, USA.
2011.
[8] Dascalescu, S., Nastasescu, C., Rainau, S. An Introduction to Hopf Algebras,
Marcel Dekker, Inc., USA. 2001.
[9] Gelfand, I.M., Minlos, R.A., Shapiro, Z.Ya. Representations of the Rotation and
Lorentz Groups and Their Applications, Dover Publications, Inc., New York,
USA. 2018.
Published
2021-11-05
How to Cite
Khoshyaran, M. (2021). The Causal Theory of Action based utility and consumer surplus. Journal of Progressive Research in Mathematics, 18(4), 36-57. Retrieved from http://scitecresearch.com/journals/index.php/jprm/article/view/2098
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