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ThomasSittler comments on Economics, prioritisation, and pro-rich bias   - Effective Altruism Forum

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Comment author: ThomasSittler 03 January 2018 07:13:46AM *  4 points [-]

Carl Schulman writes:

Thus in welfare economics it is common to assume that individuals have utility functions that are proportional to the logarithm of income, i.e. with a constant change in utility per doubling of income.

See also Wikipedia on cardinal social welfare functions.

Comment author: Halstead 03 January 2018 02:24:37PM 1 point [-]

I agree, but I think this often gets forgotten as the touting example shows.