Learn how utility functions derive demand functions and their role in maximizing consumer satisfaction and economic decision making.

For any two occurrences A and B, you will either prefer A to B, or prefer B to A, or be indifferent between them? If you prefer A to B and B to C, then you'll prefer A to C? If you're indifferent ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Erika Rasure is globally-recognized as a leading consumer economics subject ...

Mainstream economics has long struggled to model ethical behaviour, including what is perhaps its simplest type, altruism. The standard assumption of homo economicus, an agent who maximizes his ...

A discrete-time financial market model is considered with a sequence of investors whose preferences are described by their utility functions $U_{n}$ , defined on the ...

The “Understanding the SMB Landscape: New Needs and Concerns” report from the Smart Energy Consumer Collaborative (SECC) provides insights into the energy-related needs and concerns of small and ...

The Fast Company Executive Board is a private, fee-based network of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. BY Fast Company Executive ...

It's essential for a practitioner of REBT (rational emotive behavior therapy) and cognitive behavioral therapy (CBT) to distinguish between strong preferences and absolute demands. Preferences and ...

Introduction After the WHO prequalified the first vaccine against mpox, we aimed to identify the influence of vaccine ...

Bell, David E. "Utility and Risk Preferences." In Advances in Decision Analysis, edited by Ward Edwards, Ralph Miles, and Detlof von Winterfeldt. Cambridge: Cambridge University Press, 2007.