翻訳と辞書
Words near each other
・ Utoni Nujoma
・ Utonie
・ Utopia
・ Utopia (1983 film)
・ Utopia (2013 film)
・ Utopia (2015 film)
・ Utopia (360 album)
・ Utopia (Alanis Morissette song)
・ Utopia (American band)
・ Utopia (Australian TV series)
・ Utility Hitter
・ Utility in Canadian patent law
・ Utility infielder
・ Utility knife
・ Utility location
Utility maximization problem
・ Utility meter
・ Utility model
・ Utility monster
・ Utility Muffin Research Kitchen
・ Utility pattern
・ Utility pigeons
・ Utility player
・ Utility pole
・ Utility Radio
・ Utility ratemaking
・ Utility room
・ Utility software
・ Utility sound technician
・ Utility station


Dictionary Lists
翻訳と辞書 辞書検索 [ 開発暫定版 ]
スポンサード リンク

Utility maximization problem : ウィキペディア英語版
Utility maximization problem
:''For a less technical introduction, see Utility.''
In microeconomics, the utility maximization problem is the problem consumers face: "how should I spend my money in order to maximize my utility?" It is a type of optimal decision problem.
==Basic setup==
Suppose the consumer's consumption set, or the enumeration of all possible consumption bundles that could be selected if there were no budget constraint, has ''L'' commodities and is limited to positive amounts of consumption of each commodity. Let ''x'' be the vector ''x''= containing the amounts of each commodity; then
:x \in \mathbb^L_+ \ .
Suppose also that the price vector (''p'') of the ''L'' commodities is positive,
:p \in \mathbb^L_+ \ ,
and that the consumer's wealth is ''w''; then the set of all affordable packages, the budget set, is
:B(p, w) = \ \ ,
where \langle p , x \rangle is the dot product of ''p'' and ''x'', or the total cost of consuming ''x'' of the products at price level ''p'':
:\langle p , x \rangle=\sum_^L p_i x_i .
The consumer would like to buy the best affordable package of commodities.
It is assumed that the consumer has a cardinal utility function, called ''u''. It is a real valued function with domain being the set of all commodity bundles, or
:u : \mathbb^L_+ \rightarrow \mathbb_+ \ .
Then the consumer's optimal choice ''x''(''p'', ''w'') is the utility maximizing bundle of all bundles in the budget set, or
:x(p, w) = \operatorname_ u(x^
*).
Finding ''x''(''p'', ''w'') is the utility maximization problem. If ''u'' is continuous and no commodities are free of charge, then x(p, w) exists. If there is a unique maximizer for all values of the price and wealth parameters, then it is called the Marshallian demand function. The relationship between the utility function and Marshallian demand in the utility maximization problem mirrors the relationship between the expenditure function and Hicksian demand in the expenditure minimization problem.
In practice, a consumer may not always pick an optimal package. For example, it may require too much thought. Bounded rationality is a theory that explains this behaviour with satisficing—picking packages that are suboptimal but good enough.

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
ウィキペディアで「Utility maximization problem」の詳細全文を読む



スポンサード リンク
翻訳と辞書 : 翻訳のためのインターネットリソース

Copyright(C) kotoba.ne.jp 1997-2016. All Rights Reserved.