utilon

Noun

1. A hypothetical unit measuring satisfaction.
   • However, you have to realize that you should measure the costs and payoffs in utilons, not in dollars. $1 is almost infinitesimally small (in utilons), while $1M payoff is huge - it is perfectly rational to buy the...
   • A trader or trading firm having zero wealth, I've already said, should be considered infinitely bad. So therefore assign -∞ utilons to zero wealth. Conversely, infinite wealth should probably have infinity utilons,...