The Theory of Intermediate Utility - Softcover

Jin Qian

Softcover

ISBN 13: 9798337089744

Publisher: American Academic Press, 2026

Synopsis

This book redefines the concept of utility, transforming the traditional subjective notion into an objective measure of the usefulness of goods or services, and innovatively distinguishes between endpoint utility and intermediate utility. It is determined that the utility of goods or services with welfare and wealth attributes is endpoint utility, while the services utility with only auxiliary and service attributes belongs to intermediate utility. The book states that, under certain conditions, the creation of endpoint utility can be maximized; whereas the creation of intermediate utility should not be maximized but rather maintained at a certain level. The shortage caused by intermediate utility that violates the principle of moderation disrupts social production and daily life, whereas its excessive generation leads to economic losses or an economic crisis. Therefore, in modern economic research, it is necessary to confirm that utility must be defined as an objective category, and the theoretical generalization that moderates the creation of intermediate utility holds significant academic value. More importantly, the theory of intermediate utility should guide countries and regions in their national economic practices to moderate the creation of intermediate utility; it holds immense practical value for maintaining normal economic operations and development, as well as for preventing "gray rhino" events.

Edition details

• Publisher: American Academic Press
• Publication date: 2026
• Language: English
• ISBN 13: 9798337089744
• Binding: Paperback
• Number of pages: 200