No, that was my exact point. In general, economics treats money and utility as distinct. I should've been clearer: money only proxies for utility in behavioral experiments.
Labor supply theory, for example, assumes people maximize utility by choosing a combination of work and leisure. It doesn't assume people work as much as possible (or, maximize their money).
Labor supply theory, for example, assumes people maximize utility by choosing a combination of work and leisure. It doesn't assume people work as much as possible (or, maximize their money).