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PhilGoetz comments on On dollars, utility, and crack cocaine - Less Wrong
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Comments (97)
Do you mean you're skeptical that there is diminishing marginal negative utility?
I'm not convinced that it is a reasonable common regime to be in for utils(dollars). I think that it might be a reasonably common response to physical trauma: 1001 blows to the head are not as much worse than 1000 blows as the first blow was (particularly if the 100th was fatal...).
I mean I'm skeptical of increasing marginal utility of money.
I take that as a yes.
I don't have any data; I just have the reasoning that I've already presented, plus more of the same.