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John Womack asks: "Isn't this a circular definition of "utility"? That 
"utility" is anything for which a price is paid?" 
 
I'm not sure I said that.  I said "...isn't it self-evident that having 
paid a price to acquire it [an ostentation or collectible good] there is 
utility?"  I intended to ask if paying a price for a good isn't evidence 
that it has the characteristic of utility for the purchaser.  Other 
examples of utility might be simply use (picking up a stick from the ground 
to aid in walking, no exchange, no price paid) or enjoyment (a smile when 
hitting a gold ball with that new titanium club). 
 
Scott Cullen 
 
 
 
 
 
 
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