A utility function measures a consumer’s preference and satisfaction with different goods or services. As part of rational choice theory, it helps economists analyze how consumers make decisions to ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. In economics, demand is the consumer's ...

This paper offers a new interpretation of the elasticity of substitution in the constant elasticity of substitution (CES) utility function under discrete choice and separability. We model an economy ...

2020 AUG 27 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News-- Investigators discuss new findings in Mathematics - Industrial Mathematics. According to news reporting out of ...

On the big screen robots were popular this holiday season. The newly-released film Star Wars: The Force Awakens brought us more of C-3PO, R2-D2 and BB-8 — those sweet and capable robots that have ...

Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. Erika Rasure is globally-recognized as a leading consumer ...