New Approaches of the Individual Preferences’ Theory and Its Consequences

Abstract

The theory of preferences is an actively developing branch of the modern economics. However, this theory, being a cornerstone of the theory of maximizing rationality, has its own limits. Neoclassical economists considered that the hypotheses about structures of preferences, which are necessary for a formulation of a hypothesis of expected utility, will be fair at a level of simple intuition check. The theory of preferences is central for the search of a new paradigm for neoclassical economists and serves as a barrier between the economics in their understanding and social behaviour.