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utility |
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utility (Public service), noun public business, public company, public corporation, public industry utility (Usefulness), noun adequacy, advantage, applicability, avail, benefit, convenience, efficacy, employability, fruitfulness, function, helpfulness, practicality, productiveness, productivity, profit, service, serviceability, suitability, usability, use, value Foreign phrases: Omne magnum exemplum habet aliquid ex iniquo, quod publica utilitate compensatur.Every great example has some unfairness, which is compensated by the public utility. See also: advantage, appliance, behalf, benefit, betterment, expedience, feasibility, function, help, instrument, profit, propriety, tool, use, value, worth How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Because people typically approach gains and losses differently, generally acting risk-averse on gains and risk-seeking on losses (Kahneman and Tversky, 1979), the result is a non-linear utility function. Operating with a component-based architecture enables outsourcing of utility functions and maintenance of focus on core competencies and faster product development, for greater differentiation in the market. A utility function is a means for representing the objectives in a way that can be used to select among the alternative answers. |
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