`utility-with-individual-rationality` Related Article Results

Neoclassical Economic Theory is an approach that retains its validity today and is accepted as the mainstream in the discipline of economics. This theory, which has become synonymous with economics itself, emerged alongside the marginalist revolution in the late 19th and early 20th centuries. Neoclassical economics, shaped by economists such as Léon Walras, William Stanley Jevons, Carl Menger, and Alfred Marshall, primarily focuses on individual rational behavior, utility and profit maximization