| 1. | Ordinal utility functions are unique up to increasing monotone transformations.
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| 2. | Some even question the value of ordinal utility functions.
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| 3. | The first problem motivates the use of ordinal utility rather than cardinal utility.
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| 4. | The utility function approach is based as squarely on ordinal utility as Rothbard's is.
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| 5. | According to Schultz, by 1931 the idea of ordinal utility was not yet embraced by American economists.
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| 6. | The functions are ordinal utility functions, which means that their properties are invariant under positive monotone transformation.
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| 7. | Another criticism comes from the assertion that neither cardinal nor ordinal utility is empirically observable in the real world.
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| 8. | The article ordinal utility describes some properties of such functions and some ways by which they can be calculated.
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| 9. | PI concerns preferences on " sure outcomes " and is explained in the article on ordinal utility.
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| 10. | The breakthrough occurred when a theory of ordinal utility was put together by John Hicks and Roy Allen in 1934.
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