what is meant by utility is subjective?
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The utility (1) of an outcome or an event expressed in terms of an individual's personal judgement or degree of satisfaction rather than by revealed preference. See also subjective expected utility, subjective expected utility theory.
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The utility (1) of an outcome or an event expressed in terms of an individual's personal judgement or degree of satisfaction rather than by revealed preference. See also subjective expected utility, subjective expected utility theory
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