Discover the concept of utility in microeconomics, exploring its origins, types, and applications to analyze consumer ...

If you’re shopping for a new dishwasher, you might be thrilled to save a few hundred bucks on a model you like during a big sale. But there’s almost no chance that you would buy the same dishwasher ...

Forbes contributors publish independent expert analyses and insights. A former Dallas Fed president, I cover the economy. This is not an argument for more quantitative easing, or QE3, as it would ...

It is one of the basic principles taught to students studying economics. Introduced by Lord Alfred Marshall, it forms a crux in the micro-economic level often reflected in routine, day-to-day life.

A utility function measures a consumer’s preference and satisfaction with different goods or services. As part of rational choice theory, it helps economists analyze how consumers make decisions to ...

James Chen, CMT is an expert trader, investment adviser, and global market strategist. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in various areas including investing, ...

THE father of consumer choice theory, Alfred Marshall, believed that the more of something you have the less of it you want: a phenomenon economists call diminishing marginal utility. However this was ...