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The Legitimacy Of Increasing Marginal Utility In Social Services – The Case Of University Examinations

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  • Petar Filipic

Abstract

The concept of utility became rightfully recognised in economic theory with the introduction of decreasing marginal utility. However a question that arises is: does an increasing consumption of goods always and without exception lead to diminishing marginal utility? It is quite possible that in some cases marginal utility of goods and services actually increases. If this fact is true, it might additionally strengthen the utility theory and make it applicable in numerous cases of economic and social reality. This paper uses the example of the utility of studying at university (i.e. the utility of university examinations), and tries to add a few arguments in favour of the statement that the law of increasing utility exists.

Suggested Citation

  • Petar Filipic, 2010. "The Legitimacy Of Increasing Marginal Utility In Social Services – The Case Of University Examinations," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 55(186), pages 67-88, July – Se.
    • Handle: RePEc:beo:journl:v:55:y:2010:i:186:p:67-88
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    Cited by:

    1. Se-Hyuk Kim & James W Mjelde & Tae-Kyun Kim & Choong-Ki Lee & Byunggil Chun, 2023. "Willingness to pay for attributes of Templestay and implications on marginal utility of different meditation forms," Tourism Economics, , vol. 29(4), pages 1100-1120, June.

    More about this item

    Keywords

    marginal utility; law of increasing marginal utility; social services; examination;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education

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