Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Pete Rathburn is a copy editor and ...

In economics, the utility function measures the welfare or satisfaction of a consumer as a function of the consumption of real goods, such as food or clothing. Utility function is widely used in ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Erika Rasure is globally-recognized as a leading consumer economics subject ...

When a multiattribute utility function is only partially specified by prior preference statements, what can be said about the relative desirability of actual alternatives? This question is addressed ...

Pareto is usually considered to be the father of ordinal and interpersonally incomparable utility. Yet, at the same time, he acknowledged that individuals are able to perceive preference intensities ...