Utility Function of Wealth

It is often assumed that wealth has linear utility. For example, it is taken for granted that $2 is worth exactly double of $1. In most real-world scenarios, where the amount of wealth available is finite, this is not exactly true. Imagine, for example, three travellers in identical situations, except Traveller A has $2000 Traveller […]

Funny Tax Laws

Humour is not the first thing that comes to mind when you think of accountants and lawyers, but somehow, a joke has slipped into the South African Tax Code. It concerns depreciating assets, but before you can depreciate… ahem… appreciate the joke, you need a little accounting background. In the world of accounting, assets depreciate […]

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