Planet Money 193
http://www.npr.org/blogs/money/2010/07/09/128413796/the-friday-podcast-lebronomics
Before this podcast I had never heard of the concept of "utility" in an economic sense.
From what I'm understanding Utility (measured in un-measurable 'utiles') is a measure of the effect of an environmental factor on the satisfaction or enjoyment of a person or population. (One deffinition I found on the net said: "Ability of a good or service to satisfy one or more needs or wants of a consumer.")
The concept is something really interesting to me, because it's the technical term for something that I've felt for a long time. No, there may not be a significant constant benefit to me from having six boxes full of imported cds, dvds, and manga, but there is a personal benefit to my happiness in owning the things that I do, even if I don't look at them everyday. I can't really discuss the exact value in utiles of things right at the moment, but it's something that I'm sure will be banging around my head as I settle into a place where I can get imports with relative ease in the future (and as I decide what to haul up to the B.C. Book-Off for resale XD)
Before this podcast I had never heard of the concept of "utility" in an economic sense.
From what I'm understanding Utility (measured in un-measurable 'utiles') is a measure of the effect of an environmental factor on the satisfaction or enjoyment of a person or population. (One deffinition I found on the net said: "Ability of a good or service to satisfy one or more needs or wants of a consumer.")
The concept is something really interesting to me, because it's the technical term for something that I've felt for a long time. No, there may not be a significant constant benefit to me from having six boxes full of imported cds, dvds, and manga, but there is a personal benefit to my happiness in owning the things that I do, even if I don't look at them everyday. I can't really discuss the exact value in utiles of things right at the moment, but it's something that I'm sure will be banging around my head as I settle into a place where I can get imports with relative ease in the future (and as I decide what to haul up to the B.C. Book-Off for resale XD)