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by lofenfew
673 days ago
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> Economists strongly disagree What do economists have to do with it, seeing as its a philosophical position, and not one that attempts to predict the economy (badly)? Mathematically, we can deal with it by taking the pth power of whichever metric of utility per individual, then maximizing the expected value. When p->inf, then we maximize E(utility^p) by maximizing the maximal utility. When p->0, we maximize E(utility^p) by maximizing minimal utility, ie rawls position. |
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