Utility of Sacrifices : Reorientation of the Utility Theory

[enter Abstract Body]Utility theory is a pivotal concept in economics which provides insights into how an individual is motivated to act under their budget constraint. The main assumption of this theory and the entire economics is a rational human being and an individual derives utility from the consumption of goods and services under given budget constraints. This article explores these fundamental assumptions and introduces a new theoretical framework for deriving utility, which is termed the “utility of sacrifices”. It is observed that a "rational" human being derives utility from both consumption and voluntary sacrifices. Therefore, it is proposed that the total utility of an individual is the sum of these two components. This theoretical framework provides a more comprehensive understanding of the human decision-making and behavior in economics. It also provides novel insights for future research and applications in economics