utility
Utility is taken to be an absolute, accurate measurement of how desirable something is; in particular, it differs from money in three key ways.
First, desire for it is linear (generally in economics and game a person with a lot of money receives less utility from an additional amount of money than someone with very little money).
Second, when modeling a situation, utility should include all external (the happiness received from doing a good deed, for instance).
Third, different people’s utility is incomparable. It is meaningless to ask whether one person gets more utility from a situation than another person does. Utilities for a given person can be compared only to other utilities for that person.
A utility function is a function which specifies how much utility a player gets for a particular outcome. It maps the space of all possible strategy profiles to .
| Title | utility |
|---|---|
| Canonical name | Utility |
| Date of creation | 2013-03-22 12:51:59 |
| Last modified on | 2013-03-22 12:51:59 |
| Owner | Henry (455) |
| Last modified by | Henry (455) |
| Numerical id | 8 |
| Author | Henry (455) |
| Entry type | Definition |
| Classification | msc 91A99 |
| Defines | utility |
| Defines | utility function |