Although initially simply representing a measure of “happiness” as part of the theory of Utilitarianism, the term ‘utility’ has been adapted and reapplied within neoclassical economics as a function that represents a consumer's preference ordering over a set of choices. Being a key turning point in the way we examine economics, Max and Dr Freer sit down to discuss the role utility plays in economic theory and how the concept has adapted and changed over time.

Dr Mikhail Freer is a Lecturer in the Department of Economics at the University of Essex and has published numerous research papers regarding utility, particularly relating to ‘revealed preferences'.

https://www.essex.ac.uk/people/freer98100/mikhail-freer

Episode Reference List:

1) Nudge: Improving Decisions About Health, Wealth, and Happiness

by Richard H. Thaler, Cass R. Sunstein

https://www.goodreads.com/book/show/3450744-nudge

Explaination:

https://www.tutor2u.net/economics/reference/what-is-a-behavioural-nudge

2) The behavioural effect of electronic home energy reports: Evidence from a randomised field trial in the United States

by Marisa L. Henrya, Paul J. Ferrarob, Andreas Kontoleon, 2019

https://www.sciencedirect.com/science/article/abs/pii/S0301421519304094

3) How your Behaviour affects Economics!?... I Marginal Babble Ep. 2 with Dr Valerio Capraro

https://www.youtube.com/watch?v=O4habCFsn7I

4) Who Is (More) Rational?,

by Syngjoo Choi, Shachar Kariv, Wieland M ̧ller, and Dan Silverman, 2013

https://escholarship.org/content/qt4w36q52q/qt4w36q52q.pdf

5) Revealed differences

by Marco Castilloa & Mikhail Freer, 2018

http://repository.essex.ac.uk/25353/1/document.pdf

6) The Graph Coloring by Tutorials Point

https://www.tutorialspoint.com/the-graph-coloring

7) Sin Taxes and Self-Control,

by Renke Schmacker & Sinne Smed, 2020

https://rationality-and-competition.de/wp-content/uploads/2020/07/250.pdf

8) Alcohol Frequent Attenders in Emergency Departments: An Unexplored Patient Population,

by Society for the Study of Addiction, 2019

https://www.addiction-ssa.org/knowledge-hub/alcohol-frequent-attenders-in-emergency-departments-an-unexplored-patient-population/

https://corporatefinanceinstitute.com/resources/accounting/sin-tax/

https://www.sciencedirect.com/topics/earth-and-planetary-sciences/environmental-kuznets-curve

11) Gender and Growth in Sub-Saharan Africa by Mark

https://www.econstor.eu/bitstream/10419/63512/1/513089136.pdf

12) Germany's gender pay gap higher than EU average,

https://www.dw.com/en/germanys-gender-pay-gap-shrinks-but-still-higher-than-eu-average/a-55860947

13) The Impact of No-Fault Unilateral Divorce Laws

https://www.journals.uchicago.edu/doi/epdf/10.1086/706826

14) Wages, Experience and Training of Women over the

https://www.dropbox.com/s/czq6ccfr0e71r31/w25776%281%29.pdf?dl=0

15) The Retention of Women in the Private Practice

https://criminallawyers.ca/wp-content/uploads/2016/03/CLA-Womens-Study-March-2016.pdf

16) Global evidence on the selfish rich inequality hypothesis,

https://www.pnas.org/doi/epdf/10.1073/pnas.2109690119

17) Which way did you vote in the Brexit referendum?

https://www.statista.com/statistics/520954/brexit-votes-by-age/

18) On Welfare Analysis under Limited Attention, by Mikhail

https://arxiv.org/abs/2208.07659