Utility theory

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Utility theory is a branch of economics and game theory that deals with the notion of utility.

In economics an important criterion is usability depending on the level of consumption or possession of a given good (in particular it can be money). About usability features f ( x ) {\displaystyle f(x)} It is usually assumed that:

If the difference in good level is low, f & # x2033; ( x ) {\displaystyle f''(x)} is small, and it can often be assumed that marginal utility is within a fixed range, which simplifies many problems.

Utilitarian theories allow you to tackle risks and risk mitigation measures (insurances, long-term contracts, options to buy at a predetermined price, etc.) in the economy.

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