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Just because the trivial functions are obviously wrong that doesn't mean good non-trivial functions don't exist. I also don't see why you're stressing on linear
by darkmighty 11y ago
Just because the trivial functions are obviously wrong that doesn't mean good non-trivial functions don't exist. I also don't see why you're stressing on linearity, there's nothing in general utility theory that demands linearity (in particular even in VNM utility).
So here's one utility function (for a company, for example): "Utility = Capital ^ (2/3)". It's one valid utility function (even in accordance to VNM theorem), which is why I don't understand the saying "there is no utility function".
If you read what I wrote in response to gress below, I of course have no hope that utility theory would unveil a good utility function in itself; indeed you cannot do it within mathematics exclusively. I just think it's a useful tool that exposes whatever fundamental motivations you have with clarity. Which again is why I don't see why criticizing utilitarianism is a thing at all.
- eli_gottlieb 11y ago>Which again is why I don't see why criticizing utilitarianism is a thing at all. Because utilitarianism is doing utility-theory consequentialism with the utility function strictly defined to be summed-up quantities of pleasure across the whole population. Utilitarianism doesn't mean "consequentialist, VNM-rational decision making", it means, "the maximally effective way of creating and enforcing pleasure for everyone". It's not the utility function anyone really wants, which is why utility theory is such crap. It doesn't matter to have a coherent mathematical formalism if you get given not the slightest idea how to come up with a good value for the infinite-dimensional free parameter.