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"Utility" isnt axiomatic or analogous to holes. It's "vibes" dressed up in sciency sounding language.
by pydry 2y ago
"Utility" isnt axiomatic or analogous to holes. It's "vibes" dressed up in sciency sounding language.
- kgwgk 2y agohttps://en.wikipedia.org/wiki/Utility_representation_theorem https://en.wikipedia.org/wiki/Utility_representation_theorem "In economics, a utility representation theorem asserts that, under certain conditions, a preference ordering can be represented by a real-valued utility function, such that option A is preferred to option B if and only if the utility of A is larger than that of B." You may challenge the assumptions but otherwise it's mathematics.
- JumpCrisscross 2y agoWhat’s your opinion of game theory? > It's "vibes" dressed up in sciency sounding language This is pop economics. (And again, as mentioned, it’s not science-y. It’s applied mathematics. It’s only when you use the model to make predictions that it becomes science-y.) Of course, if you’ve refuted von Neumann and Morgenstern, by all means, publish. Otherwise this is the “series of tubes” equivalent for economics.