Yes, non-linear valuation means that your subjective value for X does not increase linearly with linear increases in X. It might increase logarithmically, or exponentially, or polynomially (with degree > 1), or whatever.
Yes, non-linear valuation means that your subjective value for X does not increase linearly with linear increases in X. It might increase logarithmically, or exponentially, or polynomially (with degree > 1), or whatever.