Just to clarify: In this text, are “welfare” and “utility” referring to same concept, or are they just proportional to each other because of the unitarianist assumption?
Good question, Jobst. Given the project assumptions, I was using them as synonyms. Of course, many people have perfectly good reasons for using “utility” in a broader way.
Just to clarify: In this text, are “welfare” and “utility” referring to same concept, or are they just proportional to each other because of the unitarianist assumption?
Good question, Jobst. Given the project assumptions, I was using them as synonyms. Of course, many people have perfectly good reasons for using “utility” in a broader way.