LIMITS OF NEOCLASSICAL UTILITY THEORY AND SOME POSSIBLE WAYS HOW TO OVERCOME THEM

@article{5472,
   author = {Valenčík, Radim and Wawrosz, Petr},
   article_location = {Burgas, Bulgaria},
   article_number = {Volume 10},
   keywords = {utility; consumption; investment; imagination capital; utility maximization},
   language = {eng},
   issn = {1314-7242},
   journal = {Economy & Business},
   note = {AR 2016/2017 - odesláno do RIV. (duben 2017)},
   title = {LIMITS OF NEOCLASSICAL UTILITY THEORY AND SOME POSSIBLE WAYS HOW TO OVERCOME THEM},
   volume = {2016},
   year = {2016}
}

TY  - JOUR
ID  - 5472
AU  - Valenčík, Radim - Wawrosz, Petr
PY  - 2016
TI  - LIMITS OF NEOCLASSICAL UTILITY THEORY AND SOME POSSIBLE WAYS HOW TO OVERCOME THEM
JF  - Economy & Business
VL  - 2016
IS  - Volume 10
SP  - 23-31
EP  - 23-31
PB  - International Scientific Publications
SN  - 13147242
N1  - AR 2016/2017 - odesláno do RIV. (duben 2017)
KW  - utility
KW  - consumption
KW  - investment
KW  - imagination capital
KW  - utility maximization
N2  - The article discusses some limits of the neoclassical utility theory and it offers certain possible ways of overcoming them. Our aim is not to create an absolutely new utility theory but to show possible extensions of the existing ones and to highlight productive aspects of consumption. In an attempt to overcome the limits of the neoclassical utility theory, we briefly review the previous attempts and subsequently we emphasize the fact that experience is created based on previous perception and that the synthesis of previous perception, beliefs and attitudes fulfils a double role: on one hand, it substantially increases the motivation to own goods or to perform certain activities as intermediary factors, and, on the other hand, it disconnects current activities of a human being from their original targets. We also discuss how human experience accumulates over time and how it affects both total and marginal utility.
ER  - 

VALENČÍK, Radim a Petr WAWROSZ. LIMITS OF NEOCLASSICAL UTILITY THEORY AND SOME POSSIBLE WAYS HOW TO OVERCOME THEM. \textit{Economy \&{} Business}. Burgas, Bulgaria: International Scientific Publications, roč.~2016, Volume 10, s.~23-31. ISSN~1314-7242. 2016.