Search results
Results from the WOW.Com Content Network
The felicific calculus is an algorithm formulated by utilitarian philosopher Jeremy Bentham (1748–1832) for calculating the degree or amount of pleasure that a specific action is likely to induce. Bentham, an ethical hedonist , believed the moral rightness or wrongness of an action to be a function of the amount of pleasure or pain that it ...
Main page; Contents; Current events; Random article; About Wikipedia; Contact us; Pages for logged out editors learn more
The word utility is used to mean general well-being or happiness, and Mill's view is that utility is the consequence of a good action. Utility, within the context of utilitarianism, refers to people performing actions for social utility. By social utility, he means the well-being of many people.
Bang for buck is a concept in utility maximization which refers to the consumer's desire to get the best value for their money. If Walras's law has been satisfied, the optimal solution of the consumer lies at the point where the budget line and optimal indifference curve intersect, this is called the tangency condition. [3]
Mill considered Bentham's view "to have done and to be doing very serious evil." [91] In Mill's hands, "Benthamism" became a major element in the liberal conception of state policy objectives. Bentham's critics have claimed that he undermined the foundation of a free society by rejecting natural rights. [92]
Main page; Contents; Current events; Random article; About Wikipedia; Contact us; Donate; Help; Learn to edit; Community portal; Recent changes; Upload file
Act utilitarianism is based on the principle of utility, which is the basis of all utilitarian theories and is best summed up in Bentham's well-known phrase, "the greatest happiness for the greatest number".
The utility functions may represent their chance of recovery – () is the probability of agent to recover by getting doses of the medication. The utilitarian rule then allocates the medication in a way that maximizes the expected number of survivors.