Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Utility is an ordinal measure, rather than a cardinal measure. What does it mean?
Answer
We can say which bundle is more satisfying (order of bundles), but we cannot say by how much.
Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Utility is an ordinal measure, rather than a cardinal measure. What does it mean?
Tags
#2015 #book-2 #cfa #cfa-level-1 #economics #schweser
Question
Utility is an ordinal measure, rather than a cardinal measure. What does it mean?
Answer
We can say which bundle is more satisfying (order of bundles), but we cannot say by how much.
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pdf
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iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p48
Summary
| status | not learned | | measured difficulty | 37% [default] | | last interval [days] | |
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| repetition number in this series | 0 | | memorised on | | | scheduled repetition | |
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| scheduled repetition interval | | | last repetition or drill | | | | |
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Details
No repetitions