Learn how utility functions derive demand functions and their role in maximizing consumer satisfaction and economic decision making.

Learn how economists measure utility using cardinal and ordinal approaches to understand consumer choices and maximize satisfaction from products and services.

Bell, David E. "Utility and Risk Preferences." In Advances in Decision Analysis, edited by Ward Edwards, Ralph Miles, and Detlof von Winterfeldt. Cambridge: Cambridge University Press, 2007.

For any two occurrences A and B, you will either prefer A to B, or prefer B to A, or be indifferent between them? If you prefer A to B and B to C, then you'll prefer A to C? If you're indifferent ...