I think the point is that the utility curve for consumption flattens out a lot faster than people think. The difference between starving and a good cheeseburger

I think the point is that the utility curve for consumption flattens out a lot faster than people think. The difference between starving and a good cheeseburger is probably a lot bigger than the difference between the cheeseburger and an immaculate dinner overlooking the Thames. Granting that it seems pretty rational to just settle with the four-times pricier television and leave the rest to the grandchildren or charity. There are of course exceptions, e.g. someone really should have talked to Mike Tyson about the diminishing marginal utility of Bengal tigers.