Abstract
Standard decision theoretic models disregard the phenomenon of interpersonal dependency of preferences. In this paper it is argued that interpersonal dependency of preferences is a serious challenge for standard utility theory. First we sketch the more philosophical aspects of the problem and then, using a simple, formal model for the two-person case, we show that interpersonal dependency of preferences generally results in indeterminacy of preferences (resp. of subjective utility).
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Nida-Rümelin, J., Schmidt, T. & Munk, A. Interpersonal dependency of preferences. Theor Decis 41, 257–280 (1996). https://doi.org/10.1007/BF00136128
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DOI: https://doi.org/10.1007/BF00136128