Utility Function
[juːˈtɪlɪti ˈfʌŋkʃən]
nounpl: Utility Functions
Função de Utilidade
1. A mathematical function that represents consumer preferences by assigning numerical values to different bundles of goods or outcomes, where higher values indicate greater satisfaction or preference
The utility function U(x,y) = xy represents how a consumer's satisfaction increases with consumption of goods x and y.
A função de utilidade U(x,y) = xy representa como a satisfação de um consumidor aumenta com o consumo dos bens x e y.
2. In economics and game theory, a quantitative measure of well-being or satisfaction derived from consuming goods, services, or outcomes
Economists use utility functions to model consumer behavior and predict purchasing decisions.
Economistas usam funções de utilidade para modelar o comportamento do consumidor e prever decisões de compra.
3. In computer science and software engineering, a practical application or tool designed to perform specific auxiliary tasks
The system includes several utility functions for data processing and file management.
O sistema inclui várias funções de utilidade para processamento de dados e gerenciamento de arquivos.
The concept of utility function is fundamental in Western economic theory and is taught universally in economics programs in both Brazil and the USA. It represents the quantification of human satisfaction and preference—a distinctly modern economic approach developed in the 19th century. In Brazilian academic contexts, it is a core component of microeconomics and game theory courses. The term maintains identical usage across Portuguese and English-speaking academic communities, reflecting the globalized nature of economic science.
Related Idioms & Phrases
Maximize utility
Diminishing marginal utility
Utility maximization problem
Derive utility from
Consumer utility analysis
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