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 ...

Six experiments are described that use magnitude estimation methods to characterize a nonlinear (approximately square root) utility function for money. These same methods can be used to assign ...

When the policymaker's utility function is asymmetric, structural shifts in uncertainty have quite different implications for optimal policymaker behavior under uncertainty depending on the source of ...