Utilon

Quick meaning: Utilon is a noun meaning (economics) A hypothetical unit measuring satisfaction.

Meaning

(economics) A hypothetical unit measuring satisfaction.

Example Sentences

However, you have to realize that you should measure the costs and payoffs in utilons, not in dollars. $1 is almost infinitesimally small (in utilons), while $1M payoff is huge - it is perfectly rational to buy the ticket.

A trader or trading firm having zero wealth, I've already said, should be considered infinitely bad. So therefore assign -∞ utilons to zero wealth. Conversely, infinite wealth should probably have infinity utilons, though large numbers might behave oddly.

Word Forms

• utilons

Synonyms for utilon

Depending on context, synonyms include util.

Related Words

Related dictionary entries include util, unit, unitation, equivalisation, index, equivalization.

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