Utility
id:
utility-167-6808509
title:
Utility
text:
In economics, utility is a measure of the satisfaction that a certain person has from a certain state of the world. Over time, the term has been used in at least two different meanings.
- In a normative context, utility refers to a goal or objective that we wish to maximize, i.e. an objective function. This kind of utility bears a closer resemblance to the original utilitarian concept, developed by moral philosophers such as Jeremy Bentham and John Stuart Mill.
- In a descriptive context, th
brand slug:
wiki
category slug:
encyclopedia
description:
Concept in economics and game theory
original url:
https://en.wikipedia.org/wiki/Utility
date created:
2002-03-22T16:23:42Z
date modified:
2024-08-30T20:55:17Z
main entity:
{"identifier":"Q466707","url":"https://www.wikidata.org/entity/Q466707"}
image:
fields total:
13
integrity:
15