In Discussing How Best to Judge the Worth of Two

question 73

Essay

In discussing how best to judge the worth of two pleasures Mill says, "The judgment of those who are qualified by knowledge of both, or, if they differ, that of the majority among them, must be admitted as final." Do you think he intends this to mean that "might equals right," or that the "majority rules"? Why or why not?

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Definitions:

Nash Equilibrium

A concept in game theory where no player can gain by changing their strategy while the other players keep theirs unchanged.

Normal Form Game

A representation of strategic interactions in game theory, highlighting the strategies and payoffs available to players.

Price Competition

A market situation where businesses attempt to attract customers by systematically lowering the prices of their goods or services, often resulting in narrower profit margins.

Labor Negotiation Game

A strategic interaction between employers and employees or their representatives aimed at establishing terms of employment, including wages and working conditions.