On Jan 10, 2008 3:48 PM, CLAY SHENTRUP <[EMAIL PROTECTED]> wrote: > Because you talked about risk aversion, a concept which makes sense in > expected money, but not in expected utility.
Perhaps I'm getting confused. I was under the impression that at least one crucial point at issue here was how we measure utility. Am I correct? If so, since cannot measure utility directly, we would have to do so via people's behavior towards some directly measurable commodity such as money. This implies that anything which affects people's behavior towards money affects our measurements of utility.
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