In economics, the utility function measures the welfare or satisfaction of a consumer as a function of the consumption of real goods, such as food or clothing. Utility function is widely used in ...

We present a theoretical account of the origin of the shapes of utility, probability weighting, and temporal discounting functions. In an experimental test of the theory, we systematically change the ...

Within the context of a man-computer simulation game, the individual's use of utility functions during residential search is shown to be influenced by the amount of searching, the information load ...

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 ...