Cardinal utility
id:
cardinal-utility-177-1021613
title:
Cardinal utility
text:
In economics, a cardinal utility expresses not only which of two outcomes is preferred, but also the intensity of preferences, i.e. how much better or worse one outcome is compared to another. In consumer choice theory, economists originally attempted to replace cardinal utility with the apparently weaker concept of ordinal utility. Cardinal utility appears to impose the assumption that levels of absolute satisfaction exist, so magnitudes of increments to satisfaction can be compared across diff
brand slug:
wiki
category slug:
encyclopedia
description:
In contrast with ordinal utility, in economics
original url:
https://en.wikipedia.org/wiki/Cardinal_utility
date created:
2005-01-30T19:02:50Z
date modified:
2024-09-04T00:39:32Z
main entity:
{"identifier":"Q3526727","url":"https://www.wikidata.org/entity/Q3526727"}
image:
fields total:
13
integrity:
15