I was talking about changes in wealth—states would just be a straightforward logarithm.
And yes, if you’re giving to charity, your marginal utility on cash should just be whatever utilons the charity is purchasing, which shouldn’t change much as you get wealthier
I can see why you suggest it, but straightforward logarithm isn’t quite going to work, because of the behaviour around zero. I don’t have a better suggestion off the top of my head.
I was talking about changes in wealth—states would just be a straightforward logarithm.
And yes, if you’re giving to charity, your marginal utility on cash should just be whatever utilons the charity is purchasing, which shouldn’t change much as you get wealthier
I can see why you suggest it, but straightforward logarithm isn’t quite going to work, because of the behaviour around zero. I don’t have a better suggestion off the top of my head.