I’m arguing against perfect rationality as defined as the ability to choose the option that maximises the agents utility. I don’t believe that this at all an unusual way of using this term. But regardless, let’s taboo perfect rationality and talk about utility maximisation. There is no utility maximiser for this scenario because there is no maximum utility that can be obtained. That’s all that I’m saying, nothing more nothing less. Yet, people often assume that such a perfect maximiser (aka perfectly rational agent) exists without even realising that they are making an assumption.
I’m arguing against perfect rationality as defined as the ability to choose the option that maximises the agents utility. I don’t believe that this at all an unusual way of using this term. But regardless, let’s taboo perfect rationality and talk about utility maximisation. There is no utility maximiser for this scenario because there is no maximum utility that can be obtained. That’s all that I’m saying, nothing more nothing less. Yet, people often assume that such a perfect maximiser (aka perfectly rational agent) exists without even realising that they are making an assumption.
Oh. In that case, I guess I agree.
For some scenarios that have unbounded utility there is no such thing as an utility maximizer.
I think the scenario requires unbounded utility and unlimited resources to acquire it.