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The 21 pages that link to Utility function, each with the reason it gives.

• Expected utilityRelated: Expected utility averages these values across possible outcomes.

• Preference relationRelated: It can represent a preference relation when the ranking satisfies suitable conditions.

• Objective functionRelated: In decision models, maximizing utility makes preferences an objective.

• Risk aversionRelated: Its shape determines whether a decision-maker favors certainty over an equal-expected-value gamble.

• Expected utility hypothesisRelated: It translates each possible consequence into the values used in the calculation.

• Revealed preferenceRelated: Utility functions can represent preferences inferred from sufficiently consistent choice data.

• Bayesian decision theoryRelated: It encodes which consequences matter and how strongly they matter.

• Budget constraintRelated: It provides one way to model which affordable bundle a consumer chooses.

• Consumer choiceRelated: It encodes the consumer’s ranking of goods bundles.

• Indifference curveRelated: Its level sets can be drawn as indifference curves.

• First welfare theoremRelated: Individual utility comparisons supply the welfare judgments used to define Pareto efficiency.

• St. Petersburg paradoxRelated: Applying diminishing utility to money can make the lottery’s expected utility finite.

• Dynamic stochastic general equilibriumRelated: Household objectives specify how consumption, leisure, and other outcomes are valued.

• Mean–variance analysisRelated: A quadratic utility function can make preferences consistent with mean–variance ranking.

• Von Neumann–Morgenstern utility theoremRelated: The theorem constructs a utility scale whose expected values reproduce lottery preferences.

• Connected relationRelated: A connected preference relation can often be represented by a utility ranking under suitable assumptions.