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) ...

Learn how changes in income impact satisfaction and understand the principles behind the marginal utility of income in modern economies.

We consider the maximization of a gross substitutes utility function under budget constraints. This problem naturally arises in applications such as exchange economies in mathematical economics and ...

Year two of the coronavirus pandemic brought with it a massive re-examination of personal priorities. The Great Resignation, more people moving from cities to suburbs and smaller towns, and the ...

Elementary economics tells us that a good decision is to maximize utility. Utility refers to how desirable a task or choice is for an individual. Maximizers are people who strive to get the very best ...

Federal tax credits and state renewable portfolio standards have driven the utility market for solar photovoltaic (PV) projects during the past year. However, utilities are now beginning to appreciate ...

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 ...