Fact checked by Ariel Courage Reviewed by Erika Rasure What Is Utility Function? A utility function measures a consumer’s preference and satisfaction with different goods or services. As part of ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. In economics, demand is the consumer's ...

The construction of a multiattribute utility function is an important step in decision analysis. One of the most widely used conditions for constructing the utility function is the assumption of ...

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 ...

Empirical models of spatial voting allow legislators' locations in a policy or ideological space to be inferred from their roll-call votes. These are typically random utility models where the features ...