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

Mathematics of Operations Research, Vol. 41, No. 1 (February 2016), pp. 146-173 (28 pages) This paper investigates the problem of maximizing expected terminal utility in a (generically incomplete) ...

Year two of the coronavirus pandemic brought with it a massive re-examination of personal priorities. The Great Resignation, more people moving from cities to suburbs and smaller towns, and the ...

We study a stochastic network that consists of two servers shared by two classes of jobs. Class 1 jobs require a concurrent occupancy of both servers while class 2 jobs use only one server. The ...

Every week, it seems, there’s a new financial website with just the right solution for managing your money. “We’ll bucket you.” “We’ll goal you.” “We’ll de-tax you.” “We’ll balance you.” “We’ll ...

Elementary economics tells us that a good decision is to maximize utility. Utility refers to how desirable a task or choice is for an individual. Maximizers are people who strive to get the very best ...