- A mathematical function which ranks alternatives according to their utility to an individual.More example sentences
- According to this model, individuals have a utility function defined over their own consumption.
- For computational convenience it is assumed that all individuals have the same utility function.
- For example, it would be useful for economists to know how custom would enter the utility function or how it would affect restrictions.
More definitions of utility functionDefinition of utility function in:
- The US English dictionary