Utility is the importance that we attach to things. We make choices on the basis of this importance. Indeed, in economic terms, “utility,” “importance,” and “value” are synonyms. We choose what is ...

We specify all utility functions on wealth implied by four special conditions on preferences between risky prospects in four theories of utility, under the presumption that preference increases in ...

The construction of a multiattribute utility function is an important step in decision analysis. One of the most widely used conditions for constructing the utility function is the assumption of ...

It’s hard to miss all the attention and hype artificial intelligence (AI) is getting these days. Everywhere you turn there are articles on a myriad of AI-related topics, such as deep learning, machine ...