utility

(redirected from Utility function)
Also found in: Dictionary, Thesaurus, Medical, Financial, Encyclopedia.

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
References in periodicals archive ?
where [alpha] and [gamma] are scalars, [beta] is a column vector of the coefficients for the controls x, and g is a CRRA utility function for the relation with income
Second, the utility function values for four (n) relationships and six (m) strategies ([U.
Algorithm for solving multicriteria problem of choice of banknote deterioration characteristics using the utility function, Research Bulletin of National Technical University of Ukraine Kyiv Polytechnic Institute 1: 68-75.
In his discrete-choice analysis minivan consumption is a lumpy good, so the specification of the utility function is not central.
This multiple attribute utility function is then applied to help the decision maker reach an optimal decision.
It is assumed that the utility function (U) is increasing in real consumption (C) and real money balances (M/P), and it is twice differentiable, with P as the price level and M as nominal money.
The rate of time discounting is a well-defined marginalist concept that can be defined independently of the structure of the utility function, as in Epstein (1987), and that needs to be computed with the general recursive specification.
In all three cases, the influence of a group-level utility function is hypothesized to moderate or constrain the otherwise dominant influence of the individual-level utility function.
24) The only social utility function that is not altered by the definition of society is the one based on potential (not actual) Pareto efficiency.
The Pratt and Arrow measure of absolute risk aversion r(x) of a decision maker with (strictly increasing and twice differentiable) utility function u(x) is given by
This utility function representation variables are [p.

Full browser ?