Andrew Bloomenthal has 20+ years of editorial experience as a financial journalist and as a financial services marketing writer. Erika Rasure is globally-recognized as a leading consumer economics ...

A utility function measures a consumer’s preference and satisfaction with different goods or services. As part of rational choice theory, it helps economists analyze how consumers make decisions to ...

My daughter, attending her first year in college, wanted to know how to calculate marginal utility. Utility is a pivotal concept in economics. The utility you have for a Ferrari is perhaps more than ...

If you’re shopping for a new dishwasher, you might be thrilled to save a few hundred bucks on a model you like during a big sale. But there’s almost no chance that you would buy the same dishwasher ...