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Utility is a fundamental concept in decision theory. Arguing it cannot exist is the opposite extreme to arguing that homo economicus, with superhuman evaluative strategies and no gaps in rationality, exists.It's probably more like arguing that leprechauns don't exist.
The burden of proof [for its existance] is on those making up those "fundamental concepts in decision theory". I won't be taking it for granted just because they came up with it.
In any case, I'm not saying utility can't exist. I'm saying some universal utility can't exist, or if you wish: sorry, guys, you can't determine my utility function for me. I'll do it myself, thank you very much.
>So in most reasonable cases the mathematical axioms needed for utility to be defined exist in a reasonable way, allowing for comparison through a formalized utility function.
If we could have a "formalized utility function" for "most reasonable cases" we'd hardly have different morals, political parties, and so on...
It's mostly irrelevant (trivial) cases that have formalized utility functions. Everything else is political, that is up for debate based on interests, preferences, morals, and so on -- and especially based on idiosyncrasy.
Even maximing one's life/health is not some constant. Many prefer to smoke, drink, eat, knowing fully well it might have them, because their utility function favors enjoyment over life span. Others might sacrifice their life for some cause or another.