Another metric for aggregating utility is provided by political systems.
Another metric for aggregating utility is provided by political systems.
- In democratic systems we can use voting patterns as a binary indicator of the relative utility that voters have for various political candidates or ballot measures.
- Of course because all human societies feature inequalities of wealth and power, both markets and politics are flawed instruments for measuring social utility.
- Benefit/cost analysis usually uses money as a measure of utility, and thus monetizing benefits and costs is an important aspect of such an analysis.