Cardinal Utility

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August 31, 2024 4 min read Definitions

Interpersonal Comparisons: Understanding Utility Comparisons between Individuals

Economics Social Sciences Utility Welfare Economics Cardinal Utility Ordinal Utility Social Welfare Function

Interpersonal Comparisons involve comparing the welfare levels of different individuals using utility functions. This article explores the historical context, types, key events, and significance of interpersonal comparisons, along with detailed explanations, mathematical models, and examples.

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