(redirected from Utility maximization)
Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia.


In biomedical ethics and clinical decision analysis, the satisfaction or economic advantage gained from the outcome that results from a particular decision.
References in periodicals archive ?
Through the utility maximization framework, we intend to offload users to small cells and achieve load balancing across macro and small cell.
Figure I visualizes the utility maximization problem for prepaid electricity customers.
Schied [4] studied the robust utility maximization problem in a complete market under the existence of a "least favorable measure.
theta][member of]{0,1}] solve the agent's utility maximization problem, (b) intermediaries break even: [[PI].
For ad-hoc networks, similar framework has been applied for congestion control, [11,3,25,10], In [10], the authors study joint congestion control and media access control for ad-hoc wireless network, and formulate rate allocation as a utility maximization problem with the constraints that arise from contention for channel access.
On the Equivalence of Profit Maximization and Utility Maximization by an Owner-Manager Comment.
replacement for utility maximization for three fundamental reasons.
Assuming that people do value knowledge about changes in aggregate national data, and substantial problems of aggregation aside, then economists and policy makers who are concerned with long-run wealth or utility maximization should turn their attention away from the current measure of GDP and toward better measures of wealth, or utility, that focus on voluntary transactions.
The principle of utility maximization is criticized on the grounds that the meaning of the term "utility" is not well defined.
They asserted that the principle of utility maximization best explains all forms of human behavior.
Evidence that people do not behave according to simple utility maximization models is often seen as evidence that people are not rational.
In this paper we develop this use of wealth maximization as an alternative to utility maximization.