13-1a3a2.1 An exchange is positive-sum only subjectively

Another sense in which valuation is subjective.develop

“Value scales of each individual are purely ordinal, and there is no way whatever of measuring the distance between the rankings; indeed, any concept of such distance is a fallacious one. Consequently, there is no way of making interpersonal comparisons and measurements, and no basis for saying that one person subjectively benefits more than another. The fact that even if we could identify the marginal and supramarginal purchasers, we could never assert that one’s gain is greater than another’s is a conclusive reason for the rejection of all attempts to measure consumers’ or other psychic surpluses.”

Related:

• On measuring
  • 5-2 What counts cannot be counted
  • 5-2a1 You get what you measure
  • Know what to measure
  • Know what you are measuring it with
  • There are things that cannot be measured
  • To Measure or Not To Measure, That Is The Question
• 13-1a3a1 The essence of the exchange is that both people make it because they expect that it will benefit them
• 13-1a3a There must always be room for improvement in his value scale—otherwise action would disappear
• 13-4d4 Value is subjective
• 5-3a Knowledge via new explanations is inherently creative and its effects are positive-sum, because it begets new problems to be solved