Subjective Valuation versus Arbitrary Valuation

In mainstream economics, utility is often regarded as a feeling of satisfaction or enjoyment derived from buying or using goods. By popular thinking, an individual’s utility scale, or the preference scale, which is internal, determines his choices. The decision to buy or not to buy a particular good is considered subjective valuation. According to some mainstream thinking, since the buying of goods is not linked to any particular goal, this buying is of a random nature. Thus, an individual purchases goods because the preference scale decided for him to do so.