You also need the conditions of the utility theorem to hold. A preference ordering only gives you conditions 1 and 2 of the theorem as stated in the link.
Good point. I was effectively entirely leaving out the “mathematical” in “mathematical representation of preference ordering”. As I stated it, you couldn’t expect to aggregate utiles.
You also need the conditions of the utility theorem to hold. A preference ordering only gives you conditions 1 and 2 of the theorem as stated in the link.
Good point. I was effectively entirely leaving out the “mathematical” in “mathematical representation of preference ordering”. As I stated it, you couldn’t expect to aggregate utiles.
You can’t aggregate utils; you can only take their weighted sums. You can aggregate changes in utils though.