The Austrian economics framework shows that subjective valuation is not shown to be arbitrary, but rather purposeful, as ...

Understand the key differences between marginal utility and marginal benefit—how they affect pricing, consumer behavior, and decision making in economics.

Estimate demand function to understand initial product pricing vs. quantity. Use derivative for the revenue equation to find marginal revenue changes. Marginal revenue derivative is a tool to guide ...

Marginal utility helps set product pricing; high initial satisfaction decreases with more units. Some stores use bulk pricing when consumers value additional items less. Progressive taxes assume each ...

Mathematics of Operations Research, Vol. 41, No. 1 (February 2016), pp. 146-173 (28 pages) This paper investigates the problem of maximizing expected terminal utility in a (generically incomplete) ...

As a person with a chronic illness, I'm no stranger to bloodwork. I used to pore over my lab results, googling the various meanings, and trying not to panic when a test fell out of range. Function ...

Learn how utility functions derive demand functions and their role in maximizing consumer satisfaction and economic decision making.

This research paper was presented at the 64 th IEEE Symposium on Foundations of Computer Science (FOCS) 2023 (opens in new tab), a premier forum for the latest research in theoretical computer science ...