Good call—I think. Diminishing marginal utility does seem like a rather nice name for phenomena such as temporal discounting, expenditure discounting and effort discounting, though—even if it is currently defined to mean something else. Is there a better name for these things? Or is some terminology hijacking required?
Good call—I think. Diminishing marginal utility does seem like a rather nice name for phenomena such as temporal discounting, expenditure discounting and effort discounting, though—even if it is currently defined to mean something else. Is there a better name for these things? Or is some terminology hijacking required?