The Concept of Total Utility and Total Value Is Immaterial for the Act of Choice

There are in the sphere of values and valuations no arithmetical operations. Action does not measure utility or value. It chooses between alternatives. There is no such thing as a calculation of values. The valuation of the total stock of two things s can differ from the valuation of parts of these stocks. An isolated man owning seven cows and seven horses may value one horse higher than one cow, for example. But at the same time, when faced with the alternative of choosing between his whole supply of horses and his entire supply of cows, he may prefer to keep the cows but give up the horses.