The law of marginal utility states that customer satisfaction decreases with each unit purchased. So, the more your customers purchase, the less satisfaction they get from each additional purchase. If ...

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 ...

It is one of the basic principles taught to students studying economics. Introduced by Lord Alfred Marshall, it forms a crux in the micro-economic level often reflected in routine, day-to-day life.

This paper contains an analysis of how the social marginal utilities of income assigned to different persons change in response to changes in prices, the provision of public goods and other parameters ...

From a practical standpoint, the august professors were talking about the value of that last dollar, the one at the top of a potentially very high stack that you might possess. And the function for ...