Illustrations for Chapter Six: Needs and Value.
Smax = 1
shortfall
Snew
!S
Sfirst
1st
2nd
3rd
4th
5th
6th
7th
8th
Reception/consumption of unit good
Figure 6.1 Satisfaction (utility) and value (marginal utility) on the shortfall model.
Smax
C O N T E N T M E N T
level of "enough"
Snew
the spread
level of "necessary"
DESPERATION
1st
2nd
3rd
4th
5th
6th
7th
Reception/consumption of unit good
Figure 6.2 Levels of "necessary" and "enough" satisfaction.
8th
sustain
s
onset
dissipation
anticipation
Satisfaction
Time
Figure 6.3 One typical "satisfaction wave."
if 8th is received
2s
if 7th is the last
Satisfaction
s
Time
Figure 6.4 Cumulative satisfaction from a series of equally-spaced waves
S
A
B
Time Hence
Figure 6.5 Two goods with mirror-imaged satisfaction waves
0.6
pleasure, dS/sT
0.4
pleasure
0.2
0
displeasure
0
satisfaction, S
1
2
3
Time
Figure 6.6 A satisfaction wave and its corresponding "pleasure wave"
4
0
displeasure
pleasure
satisfaction, S
pleasure, dS/sT
Time
Figure 6.7 Mirror image of the satisfaction wave of Figure 6.7, and its corresponding
"pleasure wave"
F
$120
$120
$100
E
S
D
$100
C
0
Time Hence
Figure 6.8 Four satisfaction waves judged at T = 0, C preferred to D, E preferred to F
level of enough
S
G
H
Time
Figure 6.9 How rising standards of enough satisfaction incline us towards choosing the sooner o
expected at t
", or S
Plenitude
lifetime
conception birth
lifespan
plenitude-remaining
t
Time
Figure 6.10 ", plenitude, lifetime, and lifespan (" curves hypothetical).
death
S
S
Time
Time
dissipation
anticipation
onset or "rush"
Figure 6.11 Re-scaling satisfaction to forestall diminishing value (S smoothed)
withdrawal
S
level of necessary satisfaction
0
Time
Figure 6.12 A satisfaction wave with a withdrawal phase
S
level of necessary satisfaction
Time
Figure 6.13. Cumulative satisfaction for successive addictive goods