When considering utility, it is important to understand the concepts of total utility and marginal utility. Marginal utility measures the satisfaction or benefits a person gets from consuming an ...

The pricing function has organically evolved to take advantage of the marginal utility of money.

The present work takes place in the framework of a non-expected utility model under risk: the RDEU theory (Rank Dependent Expected Utility, first initiated by Quiggin under the denomination of ...

The measure of moral hazard in terms of insurance coverage is a function of two factors: 1) the undesirability to the individual of the accident or illness and 2) the dependence of the marginal ...