Abstract
AbstractIt is widely held that under ordinal utility, utility differences are ill-defined. Allegedly, for these to be well-defined (without turning to choice under risk or the like), one should adopt as a new kind of primitive quaternary relations, instead of the traditional binary relations underlying ordinal utility functions. Correlatively, it is also widely held that the key structural properties of quaternary relations are entirely arbitrary from an ordinal point of view. These properties would be, in a nutshell, the hallmark of cardinal utility. While much is obviously true in these two tenets, this note explains why, as stated, they should be abandoned. Any ordinal utility function induces a rich quaternary relation. There is such a thing as ordinal utility differences. Furthermore, this induced quaternary relation respects, apart from completeness, the most standard structural properties of quaternary relations. These properties are, from an ordinal point of view, anything but arbitrary; from a quaternary perspective only completeness should be considered the hallmark—if any—of cardinal utility. These facts are explained to be especially relevant to the critical appreciation of the ordinalist methodology.
Funder
Deutsche Forschungsgemeinschaft
Publisher
Springer Science and Business Media LLC
Subject
Economics and Econometrics,Social Sciences (miscellaneous)
Cited by
1 articles.
订阅此论文施引文献
订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献
1. Impartiality and relative utilitarianism;Social Choice and Welfare;2024-03-30