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 ...
Harvard Business School

Ordinal Independence in Non-Linear Utility Theory

Green, Jerry R., and Bruno Jullien. "Ordinal Independence in Non-Linear Utility Theory." Journal of Risk and Uncertainty 1, no. 4 (December 1988): 355–387.
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 ...
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 ...