"The problem of interpersonal comparison of utilities seems to bother economists more than philosophers. As already indicated, utility or satisfaction or any other similar concept appears in economic theory as an explanation of individual behavior, for example, as a consumer. Specifically, it is hypothesized that the individual chooses his consumption so as to maximize his utility, subject to the constraints imposed by his budget. But, for this purpose, a quantitatively measurable utility is a superfluous concept. All that is needed is an ordering, that is, a statement for each pair of consumption patterns as to which is preferred."
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Academics from the United StatesPeople from New York CityMathematicians from the United StatesEconomists from the United StatesNobel laureates in Economics
Original Language: English
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"Some Ordinalist-Utilitarian Notes on Rawls's Theory of Justice", The Journal of Philosophy, Vol. 70, No. 9 (May 10, 1973)
https://en.wikiquote.org/wiki/Kenneth_Arrow
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Kenneth Arrow
Kenneth Joseph Arrow (August 23, 1921 – February 21, 2017) was an American economist, who was Professor Emeritus of Economics in Stanford, and joint winner of the Nobel Memorial Prize in Economics with John Hicks in 1972.
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