What is the cardinalist theory?

Cardinalist theory, primarily associated with the field of economics and decision theory, posits that utility can be quantified and measured in absolute terms, allowing for comparisons of satisfaction or preference levels across different choices. This approach contrasts with ordinalist theory, which only ranks preferences without assigning specific values. Cardinalists believe that individuals can express how much more they prefer one option over another in measurable units, facilitating a more precise analysis of consumer behavior and decision-making.