Learn how economists measure utility using cardinal and ordinal approaches to understand consumer choices and maximize satisfaction from products and services.
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 ...
Learn how utility functions derive demand functions and their role in maximizing consumer satisfaction and economic decision making.
Mit der Begründung der ordinalen Nutzentheorie durch Pareto war der Begriff des Grenznutzens nicht mehr quantitativ interpretierbar. Lediglich die Grenzrate der Substitution erwies sich den jetzt ...
Green, Jerry R., and Bruno Jullien. "Ordinal Independence in Non-Linear Utility Theory." Journal of Risk and Uncertainty 1, no. 4 (December 1988): 355–387.
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