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

Learn how changes in income impact satisfaction and understand the principles behind the marginal utility of income in modern economies.

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) ...

Several weeks ago, an article ran in Inside Higher Ed about the interest of many graduate students in jobs that don’t include a lot of pressure to publish. Instead many were interested in jobs that ...

We design a dynamic rate scheduling policy of Markov type by using the solution (a social optimal Nash equilibrium point) to a utility-maximization problem over a randomly evolving capacity set for a ...