The idea is that $ amount equals your utility, while in reality the history of how you got this amount also matters (regret, emotions, etc.).
There's no paradox here - as your utility expressed in $ just doesn't match utility of the subjects. As for money pump - you just have a win win situation - you earn money, and the subjects earn good feelings.
The idea is that $ amount equals your utility, while in reality the history of how you got this amount also matters (regret, emotions, etc.).
There's no paradox here - as your utility expressed in $ just doesn't match utility of the subjects. As for money pump - you just have a win win situation - you earn money, and the subjects earn good feelings.