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 ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. In economics, demand is the consumer's ...

We specify all utility functions on wealth implied by four special conditions on preferences between risky prospects in four theories of utility, under the presumption that preference increases in ...

This paper presents first the choice of the optimal insurance policy under a state-dependent utility function (S.D.U.F.) when the probabilities of loss are dependent on the actions of the insured.

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 ...