Relevant bibliographies by topics / Marginal utility. Utility theory. Economics

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  1. Journal articles
  2. Dissertations / Theses
  3. Books
  4. Book chapters
  5. Conference papers

Academic literature on the topic 'Marginal utility. Utility theory. Economics'

Author: Grafiati
Published: 4 June 2021
Last updated: 12 February 2022

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Journal articles on the topic "Marginal utility. Utility theory. Economics"

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Carvalho Castro, Luiz, and Antônio Souza Araujo. "Marginal Utility & its Diminishing Methods." Number-2, February 2019 2, no. 2 (February 28, 2018): 35–47. http://dx.doi.org/10.35935/tax/22.4735.

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In this article we have shown what is marginal utility in economics and its diminishing method mathematically. Marginal utility is an economic concept and very important to the theory of economic sciences. So we selected this topic to describe it with the concept of economics and mathematics elaborately. At the beginning of this article readers will find the definition of marginal utility and at the middle of this article, readers will find it's diminishing method mathematically. The term marginal utility has a good impact in economics. In economics, utility is the satisfaction or benefit derived by consuming a product; thus the marginal utility of a good or service is the change in the utility from an increase in the consumption of that good or service.
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Filipic, Petar. "The legitimacy of increasing marginal utility in social services: The case of university examinations." Ekonomski anali 55, no. 186 (2010): 67–87. http://dx.doi.org/10.2298/eka1086067f.

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The concept of utility became rightfully recognized in economic theory with the introduction of decreasing marginal utility. However a question that arises is: does an increasing consumption of goods always and without exception lead to diminishing marginal utility? It is quite possible that in some cases marginal utility of goods and services actually increases. If this fact is true, it might additionally strengthen the utility theory and make it applicable in numerous cases of economic and social reality. This paper uses the example of the utility of studying at university (i.e. the utility of university examinations), and tries to add a few arguments in favour of the statement that the law of increasing utility exists.
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Veblen, T. "The Limitations of Marginal Utility." Voprosy Ekonomiki, no. 7 (July 20, 2007): 86–98. http://dx.doi.org/10.32609/0042-8736-2007-7-86-98.

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The article written by the founder of institutionalism and published in 1909 is translated into Russian for the first time. Veblen criticizes different versions of neoclassical theories of production and consumption, trying to consider human behavior in the wide cultural context. He suggests a methodological alternative to neoclassical theory, rebutting teleological explanations of neoclassics and emphasizing causal relations. Moreover Veblen formulates a theoretical alternative: he develops a theory of institutional evolution and describes how habits, customary modes of thought and conventional judgments influence behavior of businessmen and how the analysis of their scheme of life can contribute to deeper understanding of their economic activity.
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Mahmutefendić, Tahir. "ECONOMICS OF THEFT." ЗБОРНИК РАДОВА ЕКОНОМСКОГ ФАКУЛТЕТА У ИСТОЧНОМ САРАЈЕВУ 1, no. 9 (December 31, 2014): 9. http://dx.doi.org/10.7251/zrefis1409009m.

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‘Economics of Theft’ analyses theft asan economic and social activity. The article challengesconventional attitude to theft as repulsive activitywhich causes moral indignation. Theft is analysedthrough two criteria which economists usually usewhen judging any economic activity; efficiency andequity. In addition to these two criteria a third one isintroduced, namely the optimal level of theft. In a vastmajority of cases theft redistributes income from betteroff to worse off; therefore, theft passes the test ofequity. Also, at lower levels a thief’s utility exceeds thedamage which a victim of theft suffers. As levels oftheft increase, marginal utility to a thief falls andmarginal damage to a victim of theft increases.Optimal level of theft is achieved when marginal utilityto a thief equals marginal damage to a victim of theft.Economists do not feel any moral indignation to theftsince it passes the test of equity. What concernseconomists is the fact that theft is unproductive activitywhich does not create any new value. Theft, therefore,does not pass the test of efficiency. The articleanalyses and compares theft with several economicactivities which do not create any material, intellectualor spiritual value and which pass neither the efficiencynor the equity test. Those activities might cause moralindignation but are perfectly legal. Economists canjustify theft until optimal level is reached, i.e. when thethief’s utility is equal to the damage suffered by avictim of theft. Laws, however, punish every theft evenwhen it is socially just. Apparently, there is a frictionbetween the economic theory and the legal system.Something must be wrong either with the economictheory or with the law. Or maybe both of them arewrong. A possible explanation might be found inMontesque’s statement that the legal system is anetwork through which big fish pass and small fish arecaught.
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Zgheib, Philippe W., Nathalie K. Zgheib, Alfred A. Cecchetti, Bambang Parmanto, Sjarif Ahmad, and Robert A. Branch. "In-hospital drug-use optimization using the Marginal Utility Theory." Journal of Pharmaceutical Health Services Research 2, no. 2 (April 4, 2011): 89–95. http://dx.doi.org/10.1111/j.1759-8893.2011.00039.x.

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Chong, Zhang, Haoping Liu, Hyoung Jun Kim, Qian Wu, and Samuel Xie. "The Rationality of Addiction." Deakin Papers on International Business Economics 2, no. 2 (December 1, 2009): 1–8. http://dx.doi.org/10.21153/dpibe2009vol2no2art192.

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This paper presents a discussion on the rationality of addiction using economic theories. Drug abuse is the dominant context for addict ion in this paper. However, it does not preclude a broader definition, encapsulating dependence on substances other than pharmacological agents; let it be nicotine , alcohol, coffee, chocolates or sex. The argument follows the progression in rationale from consumption to addiction to eventual remission. The economics of any behaviour, addiction-motivated or otherwise, distils down to the scarcity of means and our intuitions of opportunity costs involved in making a choice. The two concepts are interrelated. The process of decision-making weighs the benefit of each choice (its marginal utility) against its opportunity cost. In utility maximization theory, money is a scarce resource assumed important for maximizing utility. Therefore, choice on consumption is decided by the relative price between two goods. Overall utility is maximized when the ratio of the prices of two desired goods is equal to their marginal rate of substitution – the ratio of their marginal utilities. That is, the objective or source of utility for a consumer is to maximi ze the total value of their available money.
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Alvino, Letizia, Efthymios Constantinides, and Massimo Franco. "Towards a Better Understanding of Consumer Behavior: Marginal Utility as a Parameter in Neuromarketing Research." International Journal of Marketing Studies 10, no. 1 (February 27, 2018): 90. http://dx.doi.org/10.5539/ijms.v10n1p90.

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Understanding consumers’ decision-making process is one of the most important goal in Marketing. However, the traditional tools (e,g, surveys, personal interviews and observations) used in Marketing research are often inadequate to analyse and study consumer behaviour. Since people’s decisions are influenced by several unconscious mental processes, the consumers very often do not want to, or do not know how to, explain their choices. For this reason, Neuromarketing research has grown in popularity. Neuromarketing uses both psychological and Neuroscience techniques in order to analyse the neurological and psychological mechanisms that underlying human decisions and behaviours. Hence, studying these mechanisms is useful to explain consumers’ responses to marketing stimuli.This paper (1) provides an overview of the current and previous research in Neuromarketing; (2) analyzes the use of Marginal Utility theory in Neuromarketing. In fact, there is remarkably little direct empirical evidence of the use of Marginal Utility in Neuromarketing studies. Marginal Utility is an essential economic parameter affecting satisfaction and one of the most important elements of the consumers’ decision-making process. Through the use of Marginal Utility theory, economists can measure satisfaction, which affects largely the consumer’s decision-making process. The research gap between Neuromarketing and use of Marginal Utility theory is discussed in this paper. We describe why Neuromarketing studies should take into account this parameter. We conclude with our vision of the potential research at the interaction of Marginal Utility and Neuromarketing.
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Alghalith, Moawia. "New methods of modeling and estimating preferences." Studies in Economics and Finance 36, no. 1 (May 30, 2019): 83–88. http://dx.doi.org/10.1108/sef-12-2017-0354.

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Purpose This paper aims to quantify preferences without having to have any utility data. Design/methodology/approach We use duality theory, Taylor’s theorem and nonlinear regressions. Findings We presented pioneering quantitative methods in economics and business. These methods can be applied to numerous topics in empirical and theoretical economics and business. Moreover, this paper highlighted the interdisciplinary nature of economics. In doing so, it emphasized the interface between economics, marketing, management, statistics and mathematics. Furthermore, it circumvented a major obstacle in the literature: the curse of dimensionality. Originality/value The authors introduce a novel and convenient approach to utility modeling. In doing so, they present a general utility function in a simple form. Furthermore, they develop a method to measure preferences without any utility data. They also devise a method to measure the marginal utility. Then, they develop new methods of modeling and measuring the consumer utility. In so doing, they overcome a major obstacle: the curse of the dimensionality. In addition, they introduce new methods of modeling and measuring the consumer demand for the firm’s good.
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Feng, Yu. "A Study on “Value” Concept of the Austrian School." Asian Social Science 16, no. 4 (March 31, 2020): 42. http://dx.doi.org/10.5539/ass.v16n4p42.

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The marginal utility theory of Austrian School is an important value theory in western economics. Need theory is the basis and premise of value theory. Need, which is equivalent to desire, has two specific connotations: "one of many needs" and "feelings of a certain need". The contribution and innovation of the need theory of Austrian School lies in that it puts forward two classifications of needs through studying the significance of needs, points out that value is only related to the classification of degrees of needs, reveals the general rule that the importance of one need decreases gradually with the increase in satisfaction, and puts forward the core concept of "marginal utility". The Austrian School studies the quality and quantity of value with human needs or desires as the measure of value. In the qualitative aspect of value, whether people's needs can be met is the direct basis for judging the existence of value, and whether it can improve people's life and welfare is the fundamental reason to judge the value of goods. In terms of the quantity of value, economists of the Austrian School propose the principle that marginal utility determines the value of the last unit of goods, completely solve Adam Smith's value paradox and achieve the transcendence of subjective utility theory.
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Bradley, Michael E. "Efficiency Wages and Classical Wage Theory." Journal of the History of Economic Thought 29, no. 2 (June 2007): 167–88. http://dx.doi.org/10.1080/10427710701335901.

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In The General Theory, John Maynard Keynes lumped together the marginalist and neoclassical economics of the late nineteenth and twentieth centuries and the more narrowly defined “classical” economics of Adam Smith, David Ricardo, J. R. McCulloch, James and John Stuart Mill and other mainstream economists of the late eighteenth and early nineteenth into what he called the “classical theory of employment,” which he reduced to two “fundamental postulates”:(a) The wage is equal to the marginal product of labour…(b) The utility of the wage when a given volume of labour is employed is equal to the marginal disutility ofthat amount of employment…(Keynes 1936, p. 5).
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Dissertations / Theses on the topic "Marginal utility. Utility theory. Economics"

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Libardi, de Carvalho Mateus. "An investigation into the elasticity of marginal utility." Thesis, University of Birmingham, 2018. http://etheses.bham.ac.uk//id/eprint/8396/.

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Prioritizing public investments is arguably one of the most important and complex tasks Governments face. In this thesis, I contribute to such a task by examining the Elasticity of the Marginal Utility (EMU). This parameter is central to the determination of the Social Discount Rate, which is the discount rate used for Cost-Benefit Analysis in the public sector. I estimate the EMU using an unprecedentedly large dataset and test variants of the estimation technique which include National Insurance Contributions and Supernumerary Income. I also test the robustness of the estimates obtained. I further investigate the validity of the estimates by testing for the first time the key assumption underlying the estimation technique that the degree of progressivity of the income tax schedule represents society's inequality aversion. Next, I examine causality between tax progressivity and income inequality, which is a theme that emerges from testing the assumption mentioned. Finally, I estimate the EMU in different contexts, relating the estimated values and their context-sensitivity to psychological traits. Overall, the results suggest an EMU of 1.5 and that the estimation methodology implemented is acceptable. They also show bidirectional causality between progressivity and inequality, and that the EMU values vary significantly with psychological traits.
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Hoffmann, Nimi. "The role of the instrumental principle in economic explanations." Thesis, Rhodes University, 2009. http://hdl.handle.net/10962/d1002842.

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Economic explanations tend to view individuals as acting to satisfy their preferences, so that when given a choice between goods, individuals choose those goods which have greater utility for them – they choose those goods which they believe can best satisfy their preferences in the circumstances at hand. In this thesis, I investigate how utility theory works when it is used to explain behaviour. In theory, utility is a positive concept. It is intended to describe and explain an individual’s behaviour without judging or justifying it. It also seems to be regarded as non-hypothetical, for it explains an individual’s behaviour in terms of preferences which need not be shared by others, but may be wholly particular to her. This implies a distinctive way of approaching people’s behaviour as isolated from and immune to the judgements of a community, for utility cannot be used as a common standard by which we judge an individual’s behaviour as better or worse, appropriate or inappropriate. I argue that this theoretical treatment of utility is substantially different from the practice of using utility to explain behaviour. In the first place, when utility is used to explain behaviour as preference-guided, it treats this behaviour as rational action. An explanation of rational action is, however, necessarily governed by the instrumental principle. This principle is normative – it stipulates the correct relation between a person’s means and her ends, rather than simply describing an existing relation. The principle is also non-hypothetical – our commitment to the principle does not rely on the possession of particular ends, but on having ends in general. The instrumental principle therefore acts as a common standard for reasoning about how to act, so that when we explain an agent’s behaviour as rational action, we expect that her action will conform to standards that we all share in virtue of having ends. Thus, I contend, in order to explain the rational actions of an individual, marginal utility necessarily appeals to the judgements of a community.
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Hudík, Marek. "Essays on Economic Behaviour." Doctoral thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-72328.

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The main thesis of these essays is that social phenomena are different from psychological phenomena and thus social sciences do not belong to behavioural sciences. Chapter 1 introduces the fundamental problem of the rational choice theory ("Macaulay's problem"): either the theory is empirical and false or it is without empirical content and true. Various suggested solutions to this problem are reviewed and criticized. It is argued that the problem is evaded once it is admitted that rational choice theory does not attempt to explain behaviour. It was developed to explain decreasing individual demand and its extension to behavioural sciences is illegitimate. In Chapter 2 the difference between the interpretation of rationality in choice theory and demand theory is shown. It is argued that choice theory must adopt the agent's point of view, while demand theory proceeds from the point of view of an observer. Chapter 3 applies the argument to the problem of indifference ("Nozick's problem"): it claims that choice theory must adopt strict ordering of alternatives because indifference is already accounted for in the description of the choice alternatives. The difference between the consumer perception and the objective price-quantity relation embodied in the demand function is further explored in Chapter 4 on the example of the Rothbardian demand theory. It is argued that the law of marginal utility defined in terms of subjective units (i.e. units relevant to the consumer) does not imply nonincreasing demand. Chapter 5 is complementary to the previous and attempts to answer the question, whether the concept of marginal utility is compatible with ordinalism. Finally, Chapter 6 discusses on the methodological level the difference between behavioural sciences and economics. It argues that the difference can be conveniently described with the help of Popper's concepts of 'World 2'and 'World 3'.
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Maas, Harro. "William Stanley Jevons and the making of modern economics /." Cambridge : Cambridge University Press, 2005. http://aleph.unisg.ch/hsgscan/hm00155220.pdf.

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Toll, Kristopher C. "Using a Discrete Choice Experiment to Estimate Willingness to Pay for Location Based Housing Attributes." DigitalCommons@USU, 2019. https://digitalcommons.usu.edu/etd/7657.

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In 1993, a travel study was conducted along the Wasatch front in Utah (Research Systems Group INC, 2013). The main purpose of this study was to assess travel behavior to understand the needs for future growth in Utah. Since then, the Research Service Group (RSG), conducted a new study in 2012 to understand current travel preferences in Utah. This survey, called the Residential Choice Stated Preference survey, asked respondents to make ten choice comparisons between two hypothetical homes. Each home in the choice comparison was described by different attributes, those attributes that were used are, type of neighborhood, distance from important destinations, distance from access to public transport, street design, parking availability, commute distance to work, and price. The survey was designed to determine the extent to which Utah residents prefer alternative household attributes in a choice selection. Each attribute contained multiple characteristic levels that were randomly combined to define each alternative home in each choice comparison. Those choices can be explained by Random Utility Theory. Multinomial logistic regression will be used to estimate changes in utility when alternative attribute levels are present in a choice comparison. Using the coefficient estimate for price, a marginal willingness to pay (MWTP) for each attribute level will be calculated. This paper will use two different approaches to obtain MWTP estimates. Method One will use housing and rent price to recode the price variable in dollar terms as defined in the discrete choice experiment. Method Two will recode the price variable as an average ten percent change in home value to extrapolate a one-time payment for homes. As a result, we found that it is possible to obtain willingness to pay estimates using both methods. The resulting interpretations in dollar terms became more relatable. Metropolitan planning organization can use these results to understand how residents perceive home value in dollar terms in the context of location-based attributes for homes.
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Vairo, David L. "Elaborations on Multiattribute Utility Theory Dominance." VCU Scholars Compass, 2019. https://scholarscompass.vcu.edu/etd/5726.

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ELABORATIONS ON MULTIATTRIBUTE UTILITY THEORY DOMINANCE By David L. Vairo A dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy at Virginia Commonwealth University. Virginia Commonwealth University, 2019. Major Director: Dissertation director’s name, Dr. Jason Merrick, Supply Chain Management and Analytics Multiattribute Utility Theory (MAUT) is used to structure decisions with more than one factor (attribute) in play. These decisions become complex when the attributes are dependent on one another. Where linear modeling is concerned with how factors are directly related or correlated with each other, MAUT is concerned with how a decision maker feels about the attributes. This means that direct elicitation of value or utility functions is required. This dissertation focuses on expanding the types of dominance forms used within MAUT. These forms reduce the direct elicitation needed to help structure decisions. Out of this work comes support for current criticisms of gain/loss separability that is assumed as part of Prospect Theory. As such, an alternative to Prospect Theory is presented, derived from within MAUT, by modeling the probability an event occurs as an attribute.
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Choe, Byung-Tae. "Essays on concave and homothetic utility functions." Uppsala : Stockholm, Sweden : s.n. ; Distributor, Almqvist & Wiksell International, 1991. http://catalog.hathitrust.org/api/volumes/oclc/27108685.html.

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Atrill, Peter. "An examination of the role, content and utility of published interim financial reports." Thesis, Henley Business School, 1986. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.373084.

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Sandberg, Thor, and Rebecka Svensson. "Den förväntade nyttan av att inte följa rekommendationer : En tvärsnittsanalys av individens efterlevnad av de allmänna råden och rekommendationerna under COVID-19 pandemin i Sverige." Thesis, Uppsala universitet, Nationalekonomiska institutionen, 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-435331.

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The purpose of this study is to investigate which groups of individuals are less likely to follow the authorities’ recommendations during the COVID-19 pandemic in Sweden. The thesis aims to explain the decision-making of these individuals during a pandemic based on the theory of Expected Utility. A linear probability model is estimated in addition to a logistic regression. The study finds that the estimated effect of gender and age are significantly different from zero when considering socioeconomic control variables. The results suggest that older individuals’ expected utility is higher when following the recommendations. For men as well as younger individuals, the theory needs an extended analysis including factors from a behavioural economics point of view. This paper is an addition to an increasing number of studies conducted on the COVID-19 pandemic.
Syftet med studien är att undersöka vilka individer som är mindre sannolika att följa de allmänna råd och rekommendationer som myndigheter uppmanar till under COVID-19 pandemin i Sverige samt att konkretisera potentiella bakgrunder till varför vissa individer väljer att inte följa de utifrån teorin om förväntad nytta. Tidigare studier har visat att män och yngre individer är mindre benägna att följa restriktioner under andra pandemier. Mot den bakgrunden formulerades uppsatsens hypoteser att män och yngre individer är mer sannolika att inte följa rekommendationer under pandemin i Sverige. En linjär sannolikhetsmodell och en logistisk regression estimerades, där ålder och kön var determinanter mot en binär utfallsvariabel definierad som 0 = följer rekommendationer och 1 = följer inte rekommendationer. Resultatet visade att kön och ålder uppvisade en effekt signifikant skild från noll även efter socioekonomiska kontroller. Utifrån förklaringsmodellen tyder resultatet på att äldre individer har en hög förväntad nytta av att följa rekommendationer. För män och yngre individer behöver teorin hämta stöd från beteendeekonomin. En fördjupande analys av individers riskpreferenser rekommenderas i framtiden för att ge tydliga rekommendationer till olika grupper i samhället.
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Holmes, Richard Roland. "The economics of stock index futures : theory and evidence." Thesis, Brunel University, 1993. http://bura.brunel.ac.uk/handle/2438/5391.

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This thesis aims to provide detailed investigation into the role and functioning of the FTSE-100 stock index futures contract, by examining four interrelated issues. Chapter 1 reviews the literature, demonstrating that stock index futures can increase investor utility by offering hedging and investment opportunities. Further, the price discovery role of futures is discussed. Chapter 2 investigates the risk return relationship for the FTSE-100 contract within a CAPM framework. While CAPM adequately explains returns prior to October 1987, post-crash the contract is riskier and excess returns and a day of the week effect are evident. Chapter 3 examines the impact of futures on the underlying spot market using GARCH, which allows examination of the link between information and volatility. While spot prices are more volatile post-futures, this is due to more rapid impounding of information. The view that futures destabilise spot markets and should be subject to further regulation is questioned. Chapter 4 examines futures market efficiency using the Johansen cointegration procedure and variance bounds tests which are developed here. Results suggest futures prices provide unbiased predictions of future spot prices for 1, 2 and 4 months prior to maturity of the contract. For 3, 5 and 6 months prior to maturity the unbiasedness hypothesis does not hold. Chapter 5 discusses the major role of futures; hedging. Hedge ratios and hedging effectiveness are examined in relation to duration and expiration effects. Hedge ratio stability is also examined. Finally, hedging strategies based on historical information are examined. Results show there are duration and expiration effect, hedge ratios are stationary and using historical information does not greatly reduce hedging effectiveness. The FTSE-100 contract is shown to be a highly effective means by which to hedge risk. Chapter 6 provides a summary and concluding remarks concerning the relevance of the research carried out here.
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Books on the topic "Marginal utility. Utility theory. Economics"

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Tamura, Hideaki. Human psychology and economic fluctuation: A new basic theory of human economics. Basingstoke [England]: Palgrave Macmillan, 2006.

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Tamura, Hideaki. Human psychology and economic fluctuation: A new basic theory of human economics. Basingstoke [England]: Palgrave Macmillan, 2006.

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The rise of the marginal utility school, 1870-1889. New York: Columbia University Press, 1989.

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Kritika marzhinalistskikh traktovok sot͡sializma. Kiev: Gol. izd-vo izdatelʹskogo obʺedinenii͡a "Vyshcha shkola", 1988.

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Gendai shihon shugi to yūkō juyō no riron: Tōshi rijun chingin no dōtai. Tōkyō: Shakai Hyōronsha, 1990.

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Segal, Uzi. Anticipated utility: A measure representation approach. Toronto: Dept. of Economics, Institute for Policy Analysis, University of Toronto, 1988.

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Kozak, I͡U G. Sovremennyĭ marzhinalizm: Metodologicheskie voprosy kritiki. Kiev: Gol. izd-vo izdatelʹskogo obʺedinenii͡a "Vyshcha shkola", 1985.

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Danske bidrag til økonomiens revolutioner. Odense: Syddansk Universitetsforlag, 2014.

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Almeida, Aníbal. Prelúdio a uma reconstrução da economia política. Lisboa: Caminho, 1989.

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Aleskerov, F. T. Utility Maximization, Choice and Preference. Berlin, Heidelberg: Springer-Verlag Berlin Heidelberg, 2007.

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Book chapters on the topic "Marginal utility. Utility theory. Economics"

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Mátyás, Antal. "A Critique of the Marginal Utility Theory." In History of Modern Non-Marxian Economics, 42–51. London: Macmillan Education UK, 1985. http://dx.doi.org/10.1007/978-1-349-18005-9_7.

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Mátyás, Antal. "The Law of Costs According to the Followers of the Marginal Utility Theory." In History of Modern Non-Marxian Economics, 35–41. London: Macmillan Education UK, 1985. http://dx.doi.org/10.1007/978-1-349-18005-9_6.

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Hill, Berkeley. "Explaining the behaviour of individuals: theory of consumer choice." In An introduction to economics: concepts for students of agriculture and the rural sector, 11–25. 5th ed. Wallingford: CABI, 2021. http://dx.doi.org/10.1079/9781800620063.0002.

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Abstract This chapter first introduces the concepts of utility, margin, and free goods. It then discusses two theories to explain consumer behaviour: (i) utility theory; and (ii) indifference theory. Both theories make the reasonable assumption that the objective the consumer has in mind is to get the greatest amount of satisfaction possible from the limited amount of purchasing power he or she possesses. The utility theory, while simple in concept, contains some difficulties which the second approach, using indifference curve analysis, overcomes. The concepts are illustrated with examples involving products such as bread, cigarettes, beer and milk.
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Silberberg, Eugene. "Marginal Utility of Money." In The New Palgrave Dictionary of Economics, 8230–33. London: Palgrave Macmillan UK, 2018. http://dx.doi.org/10.1057/978-1-349-95189-5_954.

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Silberberg, Eugene. "Marginal Utility of Money." In The New Palgrave Dictionary of Economics, 1–3. London: Palgrave Macmillan UK, 1987. http://dx.doi.org/10.1057/978-1-349-95121-5_954-1.

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Silberberg, Eugene. "Marginal Utility of Money." In The New Palgrave Dictionary of Economics, 1–3. London: Palgrave Macmillan UK, 2008. http://dx.doi.org/10.1057/978-1-349-95121-5_954-2.

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Bridges, Douglas S. "Constructive Methods in Mathematical Economics." In Mathematical Utility Theory, 1–21. Vienna: Springer Vienna, 1999. http://dx.doi.org/10.1007/978-3-7091-6410-5_1.

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de la Sienra, Adolfo García. "Preference and utility." In A Structuralist Theory of Economics, 90–113. 1 Edition. | New York : Routledge, 2019. | Series: Routledge INEM advances in economic methodology: Routledge, 2019. http://dx.doi.org/10.4324/9781315100609-7.

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Feldman, Allan M. "Preferences and Utility." In Welfare Economics and Social Choice Theory, 9–22. Boston, MA: Springer US, 1989. http://dx.doi.org/10.1007/978-1-4615-8141-3_2.

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Machina, Mark J. "Non-expected Utility Theory." In The New Palgrave Dictionary of Economics, 1–14. London: Palgrave Macmillan UK, 2008. http://dx.doi.org/10.1057/978-1-349-95121-5_2558-1.

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Conference papers on the topic "Marginal utility. Utility theory. Economics"

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Yu-Ching Tong and Greg Pottie. "The marginal utility of cooperation in sensor networks." In 2008 Information Theory and Applications Workshop (ITA). IEEE, 2008. http://dx.doi.org/10.1109/ita.2008.4601058.

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Mareš, Milan. "Open topics in fuzzy coalitional games with transferable utility." In Game Theory and Mathematical Economics. Warsaw: Institute of Mathematics Polish Academy of Sciences, 2006. http://dx.doi.org/10.4064/bc71-0-17.

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Rolik, Oleksandr, and Kolesnik Valerii. "Marginal Utility Approach for Quality of Service Evaluation in IT infrastructure." In 2020 IEEE 2nd International Conference on Advanced Trends in Information Theory (ATIT). IEEE, 2020. http://dx.doi.org/10.1109/atit50783.2020.9349352.

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Ni, Zi-Nan, Dong-Lin Su, Wen-Qing Chen, and Fang-Ming Wang. "A method based on marginal utility theory for EMC- target allocation problem." In 2010 International Symposium on Signals, Systems and Electronics (ISSSE 2010). IEEE, 2010. http://dx.doi.org/10.1109/issse.2010.5638209.

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Li Jin-ying and Wei Ya-jun. "Notice of Retraction: The remuneration of management studies based on marginal utility theory." In 2010 IEEE International Conference on Advanced Management Science (ICAMS). IEEE, 2010. http://dx.doi.org/10.1109/icams.2010.5552990.

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MacKay, James A., Gary P. Citron, and Peter Carragher. "Comparing the Results of an Exploration Portfolio Optimized Using Utility Theory Versus the Kelly Criterion." In SPE/IAEE Hydrocarbon Economics and Evaluation Symposium. Society of Petroleum Engineers, 2016. http://dx.doi.org/10.2118/179972-ms.

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Lima, Gabriel A. C., and Saul B. Suslick. "An Integration of Real Options and Utility Theory For Evaluation and Strategic Decision-Making in Oil Development and Production Projects." In SPE Hydrocarbon Economics and Evaluation Symposium. Society of Petroleum Engineers, 2005. http://dx.doi.org/10.2118/94665-ms.

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Safiullin, Lenar N., Gulnara N. Ismagilova, and Nail Z. Safiullin. "Development of the theory of demand and utility in the conditions of change of quality of the goods." In 3rd Annual International Conference on Qualitative and Quantitative Economics Research (QQE 2013). Global Science and Technology Forum Pte Ltd, 2013. http://dx.doi.org/10.5176/2251-2012_qqe13.24.

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Thamilyanan, Thivyashini, Hasmizah Bakar, Irzee Zawawi, and Siti Aishah Mohd Hatta. "Low Well Cost: Effective Cost Optimisation for Marginal Green Field Development Using Fit-for-Purpose Well Design." In IADC/SPE Asia Pacific Drilling Technology Conference. SPE, 2021. http://dx.doi.org/10.2118/200988-ms.

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Abstract During the low oil price era, the ability to deliver a small business investment yet high monetary gains was the epitome of success. A marginal field with its recent success of appraisal drilling which tested 3000bopd will add monetary value if it is commercialized as early as possible. However, given its marginal Stock Tank Oil Initially in Place (STOIIP), the plan to develop this field become a real challenge to the team to find a fit-for-purpose investment to maximize the project value. Luxuries such as sand control, artificial lift and frequent well intervention need to be considered for the most cost-effective measures throughout the life of field ‘Xion’. During field development study, several development strategies were proposed to overcome the given challenges such as uncertainty of reservoir connectivity, no gas lift supply, limited footprint to cater surface equipment and potential sand production. Oriented perforation, Insitu Gas Lift (IGL), Pressure Downhole Gauge (PDG), Critical Drawdown Pressure (CDP) monitoring is among the approaches used to manage the field challenges will be discussed in this paper. Since there are only two wells required to develop this field, a minimum intervention well is the best option to improve the project economics. This paper will discuss the method chosen to optimize the well and completion strategy cost so that it can overcome the challenges mentioned above in the most cost-effective approach. Artificial lift will utilize the shallower gas reservoirs through IGL in comparison to conventional gas lift. Sand Production monitoring will utilize the PDG by monitoring the CDP. The perforation strategy will employ the oriented perforation to reduce the sand free drawdown limit compare to the full perforation strategy. The strategy to monitor production through PDG will also reduce the number of interventions to acquire pressure data in establishing reservoir connectivity for the second phase development through secondary recovery and reservoir pressure maintenance plan. This paper will also explain the innovative approaches adopted for this early monetization and fast track project which is only completed within 4 months. This paper will give merit to petroleum engineers and well completion engineers involved in the development of marginal fields.
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Steur, Ronald, Yanko Lyubenov Yaven, Boris Gueorguiev, Rao Mahadeva, and Wenquan Shen. "Crosscutting Requirements in the International Project on Innovative Reactors and Fuel Cycles (INPRO)." In 10th International Conference on Nuclear Engineering. ASMEDC, 2002. http://dx.doi.org/10.1115/icone10-22503.

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There are two categories of requirements: (i) user requirements that need to be met by the designers and manufacturers of innovative reactors and fuel cycles, and (ii) a wide spectrum of requirements that need to be met by countries, willing to successfully deploy innovative nuclear reactors for energy production. This part of the International Project on Innovative Reactors and Fuel Cycles will mainly deal with the second category of requirements. Both categories of requirements will vary depending on the institutional development, infrastructure availability and social attitude in any given country. Out of the need for sustainable development requirements will also more specific in the future. Over a 50-year time frame both categories of requirements will evolve with social and economic development as nuclear technology develops further. For example, the deployment of innovative reactors in countries with marginal or non-existing nuclear infrastructures would be possible only if the reactors are built, owned and operated by an international nuclear utility or if they are inherently safe and can be delivered as a “black box - nuclear battery”. A number of issues will need to be addressed and conditions and requirements developed if this is going to become a reality. One general requirement for wider utilization of innovative nuclear power will be the public and environmental considerations, which will play a role in the decision making processes. Five main clusters of topics will be handled: • Infrastuctural aspects, typology and consequences for nuclear development. • Industrial requirements for the different innovative concepts. • Institutional developments and requirements for future deployment of nuclear energy. (National as well as international). • Socio-political aspects, a.o. public acceptance and role of governments. • Sustainability: requirements following the need for sustainability. Analysis will be made of the evolution of national and international social, institutional and infrastructure requirements for the deployment of innovative nuclear technology through 2050 and beyond and requirements will be identified following the need for.
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