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

For any two occurrences A and B, you will either prefer A to B, or prefer B to A, or be indifferent between them? If you prefer A to B and B to C, then you'll prefer A to C? If you're indifferent ...

This paper provides simpler and more general preference foundations for difference representations than known before and shows how to obtain cardinal utility from those difference representations. In ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...