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A full page answer What is the empirical basis for utility theory?

A full page answer

What is the empirical basis for utility theory?

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Answer #1

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Marginal utility is the additional utility derived from one additional dollar of income, and as income rises, marginal utility decreases. This is called the principle of diminishing marginal utility.


Behaviorism is defined as an objective and scientific methods based psychological method or approach.
It only related to observable behaviour based on stimulus-response.
It states that all learning of all behaviours occurs due to environmental experiences.
In 1913, John Watson state that learning of all behaviours is due to environmental interaction.
New experiences are learned through classical conditioning. Because infants are born with the ‘tabula rasa’ mental state.

Hence,It may cause different parsonalty traits like introversion, extrovert, open personality trait,social type personality trait etc.

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