Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. Erika Rasure is globally-recognized as a leading consumer ...

Abstract: Information measurement is based on cardinal utility whether probability information measurement or grammatical information measurement, or uncertainty information measurement. But for ...

In the world of economics, utility is a term used to measure the satisfaction or happiness derived from the consumption of goods and services. Utility plays a vital role in making decisions, as ...

Learn how utility functions derive demand functions and their role in maximizing consumer satisfaction and economic decision making.

The Austrian theory of the "marginal use" is restated and extended. It is found that the Austrian concept of marginal utility (as derived from the marginal use) is not dependent on cardinal utility, ...

In game theory, in order to properly use mixed strategies, equalizing strategies or the Nash arbitration method, we require cardinal payoffs. We present an alternative method to the possible tedious ...