Cardinalization: Revision history

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29 March 2024

  • curprev 05:2405:24, 29 March 2024‎ Pyrope talk contribs‎ 639 bytes +639‎ Created page with "In economics, the term "cardinalization" is often used to refer to the process of assigning numerical values to utility in order to make it measurable and comparable across individuals. This involves transforming ordinal preferences (which only rank preferences without specifying magnitudes of satisfaction) into cardinal measures (which assign specific numerical values to levels of satisfaction). By cardinalizing utility, economists aim to make utility a quantifiable con..."
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