There are plenty of epicycles you can add to save utility theory, but let's not do that. Utility theory is a model. It's not a literal description of reality. But it's useful to the extent that humans act intentionally, especially for aggregate behavior.
Been a while since I've read Friedman, but I think that's stronger than my claim. Rather, I'm saying sometimes the grounding matters, sometimes it doesn't. And even when it does, the false grounding is still often useful.
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I certainly agree that maximizing utility can be useful. To be consistent, however, I argue that "useful" is not always useful.
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