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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Describe five everyday examples of you or someone else making an interpersonal utility comparison.

To determine

Explain the examples of interpersonal utility comparison.

Explanation

Different individual preferences that can be explained in terms of the utility function are called the interpersonal utility comparison. Five every day examples of interpersonal utility comparison are listed below: 

  • There are two friends A and B, A wishes to go for an outing and B wishes to take a nap on Sunday afternoon. Here, B thinks that B can enjoy going for an outing than taking a nap. This is because the utility accruing from outing is greater than taking a nap.
  • There are two friends X and Y, where X wishes to go for a movie, and Y wishes to go to a restaurant. Here, Y considers that having food will accrue more satisfaction than watching a movie...

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