Law of diminishing marginal utility is an economics concept which states - As consumption increases, the marginal utility derived from each additional unit declines.
For example if Mr. A is hungry and he get one apple - He will feel the pleasure by eating the first apple, when he consumes the second apple - he might even feel more satisfied but if he keeps on eating more apple once his stomach his full, he will feel the displeasure from eating any additional apple. In fact, at this point by not eating any additional apple, he is more satisfied.
Now applying the concept on other things in life that derives utility whether positive or negative.
For example - Cigarette causes harm to the body, still people consumes it. Here we can say there are 2 categories of people for Cigarette consumption -
One who likes it - They feel more satisfied as they consumes more Cigarette - In fact in any addicted product/thing - The more a person consumes, the more utility he/she can derive and the concept of law of diminishing marginal utility doesn’t truly holds on addictive consumption.
One who dislikes it - This category of people doesn’t likes Cigarette, even by inhaling the smoke of someone’s else Cigarette, they get negative utility. Hence, for them by not consuming Cigarette they are more happy. However, in order to feel the happiness, they have to first imagine the state of being consuming Cigarette and then come to reality to see they are actually not consuming the addictive thing (Cigarette) hence they will be more happy without even spending anything.
The above example applies to anything be it a relationship, or any addiction like games, porn, food etc..
Few examples quoted -
Want - having a partner, observe and imagine what can go wrong, what problems generally arise etc.. Now open your eyes to find you are not in that situation as you don’t have any partner.
Want - Moving to a Foreign Country - Repeat the same process, there are many drawbacks as well in moving to a foreign land like racial discrimination (Many had done suicide as they couldn’t handle the discrimination in the foreign land). Now open your eyes - to find you are in that situation and Hola !!! you are getting positive utility without even spending anything.
I teach skill based courses on CA Yogesh Verma App
True. Constantly analysing the scenario helps.