Philosophical Reviews

 “Our own observation tells us that every polis is a community (or association) of persons formed with a view to some good purpose. I say ‘good’ because in their actions all men do in fact aim at what they think good. Clearly then all communities aim at some good, that one which is the supreme and … Continue reading

Maximizing My Utility: Lily Parra

Maximizing utility is a concept that refers to the greatest good for someone. In the book, Naked Economics, Charles Wheelan describes maximizing your utility: “Individuals act to make themselves as well off as possible. […] individuals seek to maximize their own utility, which is a similar concept to happiness, only broader.”[i] When dealing with this … Continue reading

Incentives in Today’s Market

By: taylor komlosi This semester in economics we have learned how to analytically and critically look at today’s markets; my understanding of why things happen in the market deepened when we began to read Aristotle’s Nicomachean Ethics because Aristotle explains the human pursuit of well-being and happiness. It was crazy to me to see how … Continue reading

Maximizing Your Utility: by me

Maximizing Your Utility: by me

Enya Quinn: Most assumptions about consumer motivation or a person maximizing their utility could be thought of in these ways. A utility maximizer is a rational consumer that would usually strive for the greatest amount of value or satisfaction possible. In economics, utility refers to a consumer’s satisfaction, benefit, or profit from a product or … Continue reading