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Pure Economics

Pure Economics
by Jonathan Barzilai

More than two hundred and fifty years after pure economics' birth, errors related to the value of money concept have not been satisfactorily addressed in the literature. Pure Economics is an in-depth and authoritative exploration of those and other fundamental errors, including in Decision and Game Theory. Drawing light to the often-contradictory work of microeconomic theorists, the author shows the math behind flawed equations and offers correctives. This isn’t simply a calling out of erroneous work—rather, Professor Barzilai provides proof and solutions.

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Our research group applies mathematical optimization models to solve multi-stakeholder design problems within the built environment (Architecture, Civil Engineering and Urban Planning). These models, however, do not extend naturally to group decision making. That was until Jonathan Barzilai introduced a new theory of proper (preference) measurement. Barzilai’s new theory, described in this book, offers the possibility of constructing mathematical correct preference functions. This has enabled us to create a multi-stakeholder design support tool, called the Preferendus, that allows for full integration between subject desirability via preference functions and object feasibility via design performance functions resulting in optimal synthesis engineering design solutions. Apart from this new theory, this book also offers insight in the poor quality of the math in the ‘house of quality.’

Dr. Ruud Binnekamp, Delft University of Technology

Jonathan Barzilai’s Pure Economics is a thought-provoking, scholarly investigation of often-ignored pitfalls in the measurement and quantitative analysis of individuals’ subjective values or preferences. Particularly, the book presents a series of focused critiques and corrections on classic topics in microeconomics and game theory, with notes on parallel problems in psychology and social sciences. Readers from other disciplines, including data science and machine learning, can equally benefit from the book’s advice, as the scope for use (and misuse) of subjective data has continued to grow in the context of new technology. Much of the book is accessible to a non-specialist audience, and the prose is enlivened by philosophical notes.

Pure Economics is a posthumously published work, with an extensive bibliography that serves as a further map of Dr. Barzilai’s research.

Joseph Howse, author of books on computer vision and machine learning


NEW BOOK: Pure Economics On Neural Network Accuracy and Validation On Neural Network Mini-Batches On Neural Network Training Algorithms Spectrum and Optimization Algorithms ChoiceRobot

The Foundations

Decision Theory Utility Theory


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Numerical Mathematics


An Elementary Demand Theory Error Ordinal Utility and Indifference Curves Von Neumann's Error Game Theory: Whose Values?