If we only consider the monetary value, both “briefs” have the same value. Otherwise if we incorporate utility theory with a concave bounded utility curve over the monetary value and factor in other terms such as ease of payments, or weight (of the drawn money) then the “worth” of the 100 dollar bills brief could be greater for some people. For me, the 1 dollar bills brief has more value since I’m considering a potential tax evasion prosecution. It would be very suspicious if I go around paying everything with 100 dollar bills, whereas there’s a limit on my daily spending with the other brief (how many dollars I can count out of the brief and then handle to the other person).
I admit the only time I’ve encountered the word utility as an algebraist is when I had to TA Linear Optimisation & Game Theory; it was in the sections of notes for the M level course that wasn’t examinable for the Bachelors students so I didn’t bother reading it. My knowledge caps out at equilibria of mixed strategies. It’s interesting to see that there’s some rigorous way of codifying user preference. I’ll have to read about it at some point.
If we only consider the monetary value, both “briefs” have the same value. Otherwise if we incorporate utility theory with a concave bounded utility curve over the monetary value and factor in other terms such as ease of payments, or weight (of the drawn money) then the “worth” of the 100 dollar bills brief could be greater for some people. For me, the 1 dollar bills brief has more value since I’m considering a potential tax evasion prosecution. It would be very suspicious if I go around paying everything with 100 dollar bills, whereas there’s a limit on my daily spending with the other brief (how many dollars I can count out of the brief and then handle to the other person).
I admit the only time I’ve encountered the word utility as an algebraist is when I had to TA Linear Optimisation & Game Theory; it was in the sections of notes for the M level course that wasn’t examinable for the Bachelors students so I didn’t bother reading it. My knowledge caps out at equilibria of mixed strategies. It’s interesting to see that there’s some rigorous way of codifying user preference. I’ll have to read about it at some point.