Search for tag: "maximization"
Changing Lanes and Raising UtilityChanging Lanes and Raising Utility. This material in this video was adapted from "Principles of Economics" which is entrusted to the UNIVERSITY OF MINNESOTA LIBRARIES PUBLISHING EDITION,…
From Richard Gosselin
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Consumer Choice - Utility Maximization Using the Basic MethodConsumer Choice - Utility Maximization Using the Basic Method. Image provided by OpenStax.
From Richard Gosselin
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Ultimatum GameThe ultimatum game is explored to more fully examine the rationality assumption and the theory of utility maximization. It also takes a hard look at the issue of fairness and its role in economic…
From Richard Gosselin
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