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 ...
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) ...
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Why Your Career Isn’t the End Game
Do we work to live, or live to work? In this clip from the HerMoney podcast, economist and Wharton professor Dr. Corinne Low ...
Revealed preference theory provides axiomatic tools for assessing whether individuals make observable choices “as if” they are maximizing an underlying utility function. The theory evokes a tradeoff ...
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