{"title":"The Paretian Theory of Ophelimity in Closed and Open Cycles.","authors":"Aldo Montesano","doi":"10.1400/77647","DOIUrl":null,"url":null,"abstract":"The theory of ophelimity in closed and open cycles proposed by Pareto following Volterra’s observations is examined. Although these were oriented towards identification of the integrability conditions, Pareto shows no interest in them, but in the problem of the measurement of the elementary ophelimities (i.e. of the marginal utilities) starting from the empirical data (of an ideal experiment) represented by the marginal rates of substitution and by the indifference varieties. Pareto examines both the case in which the integrability conditions are satisfied (closed cycle) and that in which they are not satisfied (open cycle) and introduces in both cases some identification conditions for the elementary ophelimities (i.e. conditions sufficient for their measurability starting from the empirical data). These conditions are commented upon and generalised.","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"14 1","pages":"77-100"},"PeriodicalIF":0.0000,"publicationDate":"2006-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"12","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"History of Economic Ideas","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1400/77647","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Arts and Humanities","Score":null,"Total":0}
引用次数: 12
Abstract
The theory of ophelimity in closed and open cycles proposed by Pareto following Volterra’s observations is examined. Although these were oriented towards identification of the integrability conditions, Pareto shows no interest in them, but in the problem of the measurement of the elementary ophelimities (i.e. of the marginal utilities) starting from the empirical data (of an ideal experiment) represented by the marginal rates of substitution and by the indifference varieties. Pareto examines both the case in which the integrability conditions are satisfied (closed cycle) and that in which they are not satisfied (open cycle) and introduces in both cases some identification conditions for the elementary ophelimities (i.e. conditions sufficient for their measurability starting from the empirical data). These conditions are commented upon and generalised.
期刊介绍:
History of Economic Ideas is a new international series of Quaderni di storia dell''economia politica, a journal founded in 1983 to promote collaboration between scholars who share an historical approach to the major issues, the various "revolutions" which have left their mark on economics and the spread of economic ideas beyond the narrow circle of specialists. History of Economic Ideas rejects the dichotomy between "analysis" and "culture": both aspects are of equal importance for a wider understanding of the subject. In a period such as our own, where paradigms which once seemed unshakeable are now being challenged, a multidisciplinary analysis of the historical development of economics might contribute to shedding light on the issues at the root of current debate. Besides essays and critical surveys, the journal includes archive material and reviews of new books on history of economics. History of Economic Ideas is double-blind peer reviewed.