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 ...

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 ...

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 ...

1 School of Statistics, Beijing Normal University, Beijing, China. 2 College of Economics and Management, Nanjing University of Aeronautics and Astronautics, Nanjing, China. 3 Department of Economics, ...

Abstract: This article pointed out the weakness of traditional U-R utility function and studied the E-V utility function which is based on the expected profit and variance. It proposed the sufficient ...

Within the context of a man-computer simulation game, the individual's use of utility functions during residential search is shown to be influenced by the amount of searching, the information load ...