> We have thus confirmed the (cardinalist) assumption of nineteenth century economists that marginal utility of income declines with income.
https://cep.lse.ac.uk/pubs/download/dp0784.pdf
People say stuff that needs evidence then say "according to economic theory" like its a source.
(fwiw I agree that this isn't a good argument for a log scale)
> We have thus confirmed the (cardinalist) assumption of nineteenth century economists that marginal utility of income declines with income.
https://cep.lse.ac.uk/pubs/download/dp0784.pdf
People say stuff that needs evidence then say "according to economic theory" like its a source.
(fwiw I agree that this isn't a good argument for a log scale)