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

Mathematics of Operations Research, Vol. 41, No. 1 (February 2016), pp. 146-173 (28 pages) This paper investigates the problem of maximizing expected terminal utility in a (generically incomplete) ...

Several weeks ago, an article ran in Inside Higher Ed about the interest of many graduate students in jobs that don’t include a lot of pressure to publish. Instead many were interested in jobs that ...

Rationality is usually defined in terms of expected utility maximization. This paper argues for defining it in terms of conditional expected utility maximization by showing this conception's superior ...