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That can maximize utilities of decision makers.
The sustainability challenge presented by WBCSD seems to focus on finding answers to the question of how to best maximize utilities by minimizing the costs.
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They stink at statistics and rarely maximize utility.
In the real world, neither people nor firms maximize utility.
Business is about making choices that maximize utility.
Why create government with the principle that it should maximize utility in this society?
Traditional economics started from a perspective where consumers maximize utility subject to a budget constraint and producers maximize profit.
(In most economic models, individuals are seen as automatons who maximize "utility functions" by obeying a set of mathematical "first order conditions").
Maybe I approve of actions that maximize utility, and believe that telling the truth to the judge maximizes utility.
Even if we morally ought to maximize utility, it need not be morally wrong to fail to maximize utility.
It does not always maximize utility to punish people for failing to maximize utility (cf. Sinnott-Armstrong 2005).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com