The law of DMU is pretty old and well accepted. The MU is usually taken to be monotonically decreasing. We took a survey on this and found that contrary to monotonic decrease it has an initial bump before the monotony. The published paper is uploaded.
Comments and discussions on this paper are welcome.
https://www.researchgate.net/publication/348351620_Hidden_Subjective_Aspects_in_the_Law_of_Diminishing_Marginal_Utility_The_Initial_Bump_and_Limitations_of_Neuroeconomics?_sg=C1xQXThbrieABsYNEqbuw9diBYwoU0XK8H9lgoemNFyVRD0b0VPfkRsjqmVPDz-CIhSEMHs9fdKuqLA1Y0IrngKHtxk7YpnLMpwEHnCF.DrEgTN6KbNLn6Fr7V7mFsuENgDAxHsPcAN0VmwTOln41bXGZjnWHjFs6tVUq1WS4QtYju2GP_hJP0hWgS72Jcg
We studied the microscopics of the law by taking a survey and found that MU initially increases a little and then decreases. For some, it stays constant first and then decreases. These are new findings previously overlooked or not studied at all.
Thanks L. Moez.
We have hope that this new discovery can have applications in optimizing products and sales and in study of consumer behavior
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