utility

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u·til·i·ty

(yū-til'i-tē),
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 ?
The utility function is used to translate the values of the parameters from the different decision alternatives into a value that represents the risk tolerance of the decision maker.
Considering the utility function of soft QoS traffic type then we formulate the renewable energy allocation problem as the total utility maximization problem.
Let us now consider an agent with utility function v that is assumed to be more concave than u.
Ideally, the researcher would like an income elasticity estimate for each consumer because each consumer presumably has a different preference set and thus a different utility function that is not observable to the researcher.
The signal to noise ratio (SNR) of the node is estimated based on the utility function ([UF.
So the utility theory is introduced to characterize the heterogeneity of faults' demands and repairing squads' capabilities by constructing a utility function in this paper.
The CRRA utility function is often used in applied theory and empirical work because of its tractability and appealing implications.
Alternatives are weighted with respect to one or more given criteria with the purpose of calculating the overall utility function for each alternative.
As economists are very well-aware, a utility function representing an ordering of attribute bundles (or any other items) is hardly unique: rather, it is unique only up to an ordinal ("increasing") transformation.
In this article, we use a mathematical model of consumer's behaviour optimization with a utility function that analyzes mutual relations between two kinds of goods and also allows the differentiation of consumer's price demand elasticity.
A conventional isoelastic utility function has two problems.

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