Sentence examples for marginal utility function from inspiring English sources

Considering a prospect-theory type marginal utility function, the S-shape value function is utilized to encode the preferences of negotiators.

where U k ′ is the derivative of U k and called the marginal utility function of user k.

where w k ≥ 0 is a time-varying scheduling weight assigned to user k and is adaptively controlled by the marginal utility function with respect to the current average rate.

At each time slot t, the M-LWDF scheduler aims at choosing the best combination of queueing delay and potential transmission rate, serving the users that maximize the sum of marginal utility functions given by [36] U ( t ) = ∑ m = 1 N m χ m ( t ) W HOL, m ( t ) R m ( t ) r ̄ m ( t ).

In this case, at each time slot t, the EXP scheduler serves the users maximizing the sum of marginal utility functions given by [35] U ( t ) = ∑ m = 1 N m χ m ( t ) R m ( t ) r ̄ m ( t ) exp χ m ( t ) W HOL, m ( t ) - χ W ¯ 1 + χ W ¯. That is, w m ( t ) = χ m ( t ) r ̄ m ( t ) exp χ m ( t ) W HOL, m ( t ) - χ W ¯ 1 + χ W ¯. for all m, with χ W ¯ = 1 N m ∑ m = 1 N m χ m ( t ) W HOL, m ( t ).

A similar argument has been applied in the classical economic theory of maximization of expected personal utility [16], in which risk aversion is attributed to decreasing marginal utility as a function of wealth, while long-shot gambling is postulated to be due to a hypothetical convexity of the utility function at very high returns.

While there is no published study about the shape of the marginal utility of income function in China, there is empirical evidence from India [ 55, 57] and developed countries [ 55, 58- 60] that the marginal utility of income is indeed constant.

Here, we sought to define utility as a function of physical value using risky choices and investigate whether dopamine reward responses reflected the marginal utility calculated from the utility function.

The first derivative of the nonlinear utility function (marginal utility) was significantly larger around the medium gamble compared with the two other gambles.

In this context the marginal utility followed by definition the utility function.

A second questionnaire for respondents to the first one who indicated an interest in participating in the second questionnaire is conducted for the conjoint analysis to determine the utility function and marginal cost of each attribute in order to prioritize the planning factors to develop a quantitative and economically and socially feasible land-use plan.