Pretty much. And I should mention at this point that experiments show that, contrary to instructions, subjects nearly always interpret utility as having diminishing marginal utility.
Well, that leaves me even less optimistic than before. As long as it’s just me saying, “We have options A, B, and C, but I don’t think any of them work,” there are a thousand possible ways I could turn out to be wrong. But if it reduces to a math problem, and we can’t figure out a way around that math problem, hope is harder.
Pretty much. And I should mention at this point that experiments show that, contrary to instructions, subjects nearly always interpret utility as having diminishing marginal utility.
Well, that leaves me even less optimistic than before. As long as it’s just me saying, “We have options A, B, and C, but I don’t think any of them work,” there are a thousand possible ways I could turn out to be wrong. But if it reduces to a math problem, and we can’t figure out a way around that math problem, hope is harder.