Utility: Difference between revisions

Latest revision as of 07:31, 19 July 2012

Utility, in the context of economics, is the causal relevance for a good for the removal of felt uneasiness. In the context of praxeology, the term is "tantamount to [the] importance attached to a thing on account of the belief that it can remove felt uneasiness."^[1] In addition to these notions, there is also the technological notion of objective utility in the sense of a thing being able to bring about a certain effect.

References

↑ Ludwig von Mises. VII. Action Within The World, 1. The Law of Marginal Utility, Human Action, online version, referenced 2011-04-30.

This article is a stub. You can help Mises Wiki by expanding it.

[humanaction_ch7sec1-1] Ludwig von Mises. VII. Action Within The World, 1. The Law of Marginal Utility, Human Action, online version, referenced 2011-04-30.

[1]

Revision as of 10:55, 2 May 2011 view source Pestergaines (talk \| contribs) Bureaucrats, checkuser, Administrators 4,479 edits m +cat ← Older edit		Latest revision as of 07:31, 19 July 2012 view source FormerContributor-78162cb3 (talk \| contribs) Bureaucrats, Administrators 2,692 edits m copyedit
Line 1:		Line 1:
	'''Utility''', in the context of economics, is the causal relevance for a [[good]] to the ~~remove~~ felt uneasiness. In the context of [[praxeology]], the term is "tantamount to [the] importance attached to a thing on account of the belief that it can remove felt uneasiness."<ref name="humanaction_ch7sec1">[[Ludwig von Mises]]. [http://mises.org/humanaction/chap7sec1.asp VII. Action Within The World], 1. The Law of Marginal Utility, ''[[Human Action]]'', online version, referenced 2011-04-30.</ref> In addition to these notions, there is also the technological notion of objective utility in the sense of a thing being able to bring about a certain effect.		'''Utility''', in the context of economics, is the causal relevance for a [[good]] for the removal of felt uneasiness. In the context of [[praxeology]], the term is "tantamount to [the] importance attached to a thing on account of the belief that it can remove felt uneasiness."<ref name="humanaction_ch7sec1">[[Ludwig von Mises]]. [http://mises.org/humanaction/chap7sec1.asp VII. Action Within The World], 1. The Law of Marginal Utility, ''[[Human Action]]'', online version, referenced 2011-04-30.</ref> In addition to these notions, there is also the technological notion of objective utility in the sense of a thing being able to bring about a certain effect.

	==References==		==References==