Guides
Utility & Revealed Preference
Browse 4 free mental model guides in Utility & Revealed Preference.
Guides in this category
Ordinal vs. Cardinal Utility
Learn the difference between simply ranking your preferences (ordinal) and assigning them a specific, measurable value (cardinal).
Read guidePreference Axioms & Utility
Mathematical rules that guarantee consistent choices can be represented as maximizing a single utility score—foundational for economics and decision science.
Read guideRandom Utility & Discrete Choice
A framework explaining why people make different choices even when facing the same options, combining consistent preferences with unobserved factors.
Read guideRevealed Preference & Afriat's Theorem
A framework for understanding preferences through observable choices, with a mathematical guarantee that consistent choices reveal underlying rational utility.
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