Utility Function Explained: Definition, How to Calculate, Examples

Fact checked by Ariel Courage Reviewed by Erika Rasure What Is Utility Function? A utility function measures a consumer’s preference and satisfaction with different goods or services. As part of ...
Investopedia

Utility in Economics Explained: Types and Measurement

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Robert Kelly is managing director of XTS ...
Investopedia

How does marginal utility relate to indifference curves in microeconomics?

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 ...
JSTOR Daily

Partial Information, Dominance, and Potential Optimality in Multiattribute Utility Theory

When a multiattribute utility function is only partially specified by prior preference statements, what can be said about the relative desirability of actual alternatives? This question is addressed ...
JSTOR Daily

Das Gesetz des abnehmenden Grenznutzens in der ordinalen Nutzentheorie — eine neue alte Interpretation der Inferiorität / The Law of Diminishing Marginal Utility in Ordinal ...

Mit der Begründung der ordinalen Nutzentheorie durch Pareto war der Begriff des Grenznutzens nicht mehr quantitativ interpretierbar. Lediglich die Grenzrate der Substitution erwies sich den jetzt ...