Utility Functions Utility is an ordinal(i.e. ordering) concept E.g. if U(x)=6 and Uly)=2 then bundle x is strictly preferred to bundle y. But x is not preferred three times as much as is y.Utility Functions Utility is an ordinal (i.e. ordering) concept. E.g. if U(x) = 6 and U(y) = 2 then bundle x is strictly preferred to bundle y. But x is not preferred three times as much as is y