Mainstream economics is obsessed with “maximizing” so-called utility functions and discovering the ubiquitous “social utility ...

Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. Erika Rasure is globally-recognized as a leading consumer ...

A countable stage, countable state, finite action decision problem is considered where the objective is the maximization of the expectation of an arbitrary utility function defined on the sequence of ...

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 ...