ABSTRACT
Actually, proponents as well as critics of neoclassical economics have built their theories around the fact that utility theory has the same structure as field theories in physics (Edgeworth [1881] 1961; Samuelson 1947, 1972). In much the same way as the force of gravity attracts objects in three-dimensional space, utility maps the attraction of individuals to higher levels of satisfaction in a space of commodities. In this chapter we will explore both the power and the limitation of field theory and attempt to arrive at a balanced judgment as to its applicability.
