Martin Osborne; Ariel Rubinstein

Published On


Page Range

pp. 3–16


  • English

Print Length

13 pages

Preferences and utility

This chapter discusses a model of preferences over an arbitrary set of alternatives. We regard an individual’s preferences as a description of her mental attitude, outside the context of any choice. This chapter investigates an individual’s preference relation, a formal concept that describes her mental attitude to all relevant alternatives.


Martin J. Osborne

Professor Emeritus of Economics at University of Toronto

Ariel Rubinstein

Emeritus in School of Economics at Tel Aviv University
Professor of Economics at New York University