I don’t see why our preferences can’t be expressed by a utility function even as they are. The only reason it wouldn’t work out is if there were circular preferences, and I don’t think most peoples preferences would work out to be truly circular if they were to think about the specific occurrence and decide what they really preferred.
Though mapping out which outcomes are more preferred than others is not enough to assign them an actual utility, you’d somehow have to guess how much more preferable one outcome is to another quantitatively.But even then I think most people could if they thought about it enough. The problem is that our utility functions are complex and we don’t really know what they are, not that they don’t exist.
I don’t see why our preferences can’t be expressed by a utility function even as they are. The only reason it wouldn’t work out is if there were circular preferences, and I don’t think most peoples preferences would work out to be truly circular if they were to think about the specific occurrence and decide what they really preferred.
Or they might violate the independence axiom, but in any case what do you mean by ” think about the specific occurrence and decide what they really preferred”, since the result of such thinking is likely to depend on the exact order they thought about things in.
Human preferences don’t naturally satisfy the VNM axioms, thus by expressing them as a utility function you’ve already changed them.
I don’t see why our preferences can’t be expressed by a utility function even as they are. The only reason it wouldn’t work out is if there were circular preferences, and I don’t think most peoples preferences would work out to be truly circular if they were to think about the specific occurrence and decide what they really preferred.
Though mapping out which outcomes are more preferred than others is not enough to assign them an actual utility, you’d somehow have to guess how much more preferable one outcome is to another quantitatively.But even then I think most people could if they thought about it enough. The problem is that our utility functions are complex and we don’t really know what they are, not that they don’t exist.
Or they might violate the independence axiom, but in any case what do you mean by ” think about the specific occurrence and decide what they really preferred”, since the result of such thinking is likely to depend on the exact order they thought about things in.