I didn’t know it had a name but marginal utility sounds like the concept behind the early form of eBay, before it became a corporation. You can still find people giving stuff away on there but that sort of exchange has now moved to places like Freegle, Freecycle and Facebook Marketplace, to a lesser extent. What people value has always been a mystery to me, I would be horrible in business. Most of my decisions are pretty much utilitarian, aside from food and drugs. I am happy in a junk yard, salvaging materials and components, that stuff feels under utilised and valuable to me.
Good perspective. I like the concept of marginal utility and scarcity.
I need to hammer a nail, I get one hammer, I hammer the nail successfully. The hammer was very valuable to me.
I get another hammer, it’s not nearly as valuable as the first hammer unless my first hammer breaks.
I give the hammer to someone else who needs to hammer a nail, they hammer the nail successfully. The hammer was very valuable to them.
https://en.wikipedia.org/wiki/Marginal_utility
I didn’t know it had a name but marginal utility sounds like the concept behind the early form of eBay, before it became a corporation. You can still find people giving stuff away on there but that sort of exchange has now moved to places like Freegle, Freecycle and Facebook Marketplace, to a lesser extent. What people value has always been a mystery to me, I would be horrible in business. Most of my decisions are pretty much utilitarian, aside from food and drugs. I am happy in a junk yard, salvaging materials and components, that stuff feels under utilised and valuable to me.