utilon
Definitions
Examples
“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.”
CEFR level
B1
Intermediate
This word is part of the CEFR B1 vocabulary — intermediate level.
This word is part of the CEFR B1 vocabulary — intermediate level.
See also
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