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Utility Function

In: Optimisation of Production Under Uncertainty

Author

Listed:
  • Svend Rasmussen

    (University of Copenhagen)

Abstract

The utility function is an important concept when modelling decision making under uncertainty. This chapter provides a description of different forms of the utility function including the expected utility model (EU-model) and its derived forms.

Suggested Citation

  • Svend Rasmussen, 2011. "Utility Function," SpringerBriefs in Economics, in: Optimisation of Production Under Uncertainty, chapter 0, pages 5-17, Springer.
    • Handle: RePEc:spr:spbchp:978-3-642-21686-2_3
    DOI: 10.1007/978-3-642-21686-2_3
    as

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