In economics, the utility function measures the welfare or satisfaction of a consumer as a function of the consumption of real goods, such as food or clothing. Utility function is widely used in ...

One of the important methodological problems concerning the application of decision analysis to complex problems is the restrictiveness of existing techniques for systematically assessing ...

Abbas, Ali E., and David E. Bell. "One-Switch Conditions for Multiattribute Utility Functions." Operations Research 60, no. 5 (September–October 2012): 1199–1212.

Differentiability is a convenient property of von Neumann-Morgensten utility functions which is almost always imposed but has not been translated into behavioral terms. In applications, expected ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. In economics, demand is the consumer's ...