It's difficult to explain but if you lay out the definition of each one, you can easily see how they are very similar.
Utility refers to the relative satisfaction derived from the consumption of goods and services.. Economic behaviour is defined in terms of attempts to increase utility aka relative satisfaction.
Hedonistic calculus is a formula developed by Bentham used in calculating the degree of pleasure (satisfaction) that a specific action is likely to cause.
You can clearly see the overlap... the idea of utility and hedonistic calculus both attempt to take a qualitative measure (satisfaction) and use it in a quantitative way. In other words, both utility and hedonistic calculus put forth the idea that satisfaction is the basis for people's actions..
That's the answer I can give you from looking up the definitions. Hope it helps you some.
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It's difficult to explain but if you lay out the definition of each one, you can easily see how they are very similar.
Utility refers to the relative satisfaction derived from the consumption of goods and services.. Economic behaviour is defined in terms of attempts to increase utility aka relative satisfaction.
Hedonistic calculus is a formula developed by Bentham used in calculating the degree of pleasure (satisfaction) that a specific action is likely to cause.
You can clearly see the overlap... the idea of utility and hedonistic calculus both attempt to take a qualitative measure (satisfaction) and use it in a quantitative way. In other words, both utility and hedonistic calculus put forth the idea that satisfaction is the basis for people's actions..
That's the answer I can give you from looking up the definitions. Hope it helps you some.