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taw comments on Post Your Utility Function - Less Wrong
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Why do people keep saying things like this? Intuition suggests, and research confirms, that there's a major diminishing returns factor involved with money, and acquiring lots of it can actually make people unhappy.
I want more money only to a degree, then I wouldn't want more. My utility function does not assign a positive, set value to money.
Theoretically you should be able to assign marginal values, like your cat getting sick is worth $X, good weather for your barbecue party is worth $Y and so on - these being marginal values. As long as the numbers are pretty small diminishing utilities shouldn't cause any problems.