Utility Maximization

Some articles on utility maximization, utility, maximization:

Economic Anthropology - Critics of The Approaches
... in particular it has been argued that the universality of rational choice and utility maximization cannot be assumed across all cultures, but also with ... Prattis noted that the premise of utility maximization is tautological whatever a person does, may it be work or leisure, is declared to be utility maximization ... to maximize this value and thereby to gain utility (e.g ...
Rational Choice Theory - Utility Maximization
... Often preferences are described by their utility function or payoff function ... This is an ordinal number an individual assigns over the available actions, such as The individual's preferences are then expressed as the relation between these ordinal assignments ...
Neoclassical Economists - Overview
... Individuals maximize utility and firms maximize profits ... the mode of employing their labour which will maximize the utility of their produce." From the basic assumptions of neoclassical economics comes a wide range of theories about various areas of economic activity ... For example, profit maximization lies behind the neoclassical theory of the firm, while the derivation of demand curves leads to an understanding of ...

Famous quotes containing the word utility:

    Moral sensibilities are nowadays at such cross-purposes that to one man a morality is proved by its utility, while to another its utility refutes it.
    Friedrich Nietzsche (1844–1900)