Articles related to utility function
The Exponential Utility Function - Economics - About.com
Definition of The Exponential Utility Function: Exponential utility is a particular functional form for the utility function. Some versions of it are used often in finance .
Money-in-the-Utility-Function - Economics - About.com
Definition of Money-in-the-Utility-Function : Money-in-the-Utility-Function is a modeling idea. In a basic Arrow-Debreu general equilibrium there is no need for ...
Indirect Utility Function - Dictionary Definition of Indirect Utility Function
The indirect utility function is denoted v(p, m) where p is a vector of prices for goods, and m is a budget in the same units as the prices. The indirect utility function ...
CES Utility - Glossary - Dictionary Definition of CES Utility - Economics
Definition of CES Utility: CES utility stands for Constant Elasticity of Substitution utility, a kind of utility function. A synonym for CRRA or isoelastic utility function.
Definition of Utility - Economics - About.com
Although utility is not directly measurable, it can be inferred from the decisions that people make. Utility in economics is usually described by a function, such as ...
How to Understand Marginal Utility and How to Use It - Economics
Marginal Utility is a concept introduced very early in microeconomics. But what ... Utility in economics is typically described by a utility function, such as: U(x) = 2x ...
von Neumann-Morgenstern Utility: Definition - Economics - About.com
von Neumann-Morgenstern utility describes a utility function (or perhaps a broader class of preference relations) that has the expected utility property: the agent ...
What Is a Quasiconcave? - Economics - About.com
A function f(x) mapping from the reals to the reals is quasiconcave if it is nondecreasing ... The most common use in economics is to say that a utility function is ...
Constant Relative Risk Aversion (CRRA) Definition - Economics
CRRA stands for Constant Relative Risk Aversion, a property of some utility functions, also said ... Example 1: for any real a, u(c)=ca a is a CRRA utility function.
Log Utility - Glossary - Dictionary Definition of Log Utility - Economics
Definition of Log Utility: A utility function. Some versions of this are used often in finance. Here is the simplest version. Define U() as the utility function and w as ...