Financial and business terms. 2012.
utility function — noun (economics) A mathematical function relating goods and services to their utility to individuals • • • Main Entry: ↑utility … Useful english dictionary
utility function — A mathematical expression that assigns a value to all possible choices. In portfolio theory, the utility function expresses the preferences of economic entities with respect to perceived risk and expected return. Bloomberg Financial Dictionary … Financial and business terms
utility function — noun A mathematical function that assigns a real number to every element of the outcome space in a way that captures the agents preferences over both simple and compound lotteries … Wiktionary
God's utility function — is a phrase coined by Richard Dawkins in his book River Out of Eden. God s utility function is the third chapter in this book. Dawkins uses this phrase to expound the Gene centered view of evolution by equating the phrase to the meaning of life… … Wikipedia
Indirect utility function — In economics, a consumer s indirect utility functionv(p, w) gives the consumer s maximal utility when faced with a price level p and an amount of income w. It represents the consumer s preferences over market conditions.This function is called… … Wikipedia
Stone-Geary utility function — The Stone Geary utility function takes the form:U = prod {i} (q i gamma i)^{eta {iwhere U is utility, q i is consumption of good i, and eta and gamma are parameters.For gamma i = 0, the Stone Geary function reduces to the generalised Cobb… … Wikipedia
Time utility function — Time/utility functions were introduced by E. Douglas Jensen in 1977 as a way to overcome the limited expressiveness in classic deadline constraints in real time systems. Time/utility function time constraints (or TUFs) and utility accrual (UA)… … Wikipedia
Friedman-Savage utility function — The Friedman Savage utility function is the theory that Milton Friedman and Leonard J. Savage put forth in their 1948 paper [ Utility Analysis of Choices Involving Risk with Leonard Savage, 1948, Journal of Political Economy Vol. 56, No. 4 (Aug … Wikipedia
Utility — This article is about the economic concept. For other uses, see Utility (disambiguation). Part of a series on Utilitarianism … Wikipedia
Utility maximization problem — In microeconomics, the utility maximization problem is the problem consumers face: how should I spend my money in order to maximize my utility? Basic setupSuppose their consumption set, or the enumeration of all possible consumption bundles that… … Wikipedia
