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Topic: Utility Maximization Problem

Related Topics

Marshallian Demand Function

Utility maximization

Indifference curve

Satisficing

Welfare economics

Social welfare function

Consumer theory

Supply and demand

Bounded rationality

Homo economicus

List of economics topics

Profit maximization

Neoclassical economics

Rational ignorance

Rational choice theory

	Bruno Bouchard - LPMA and LFA - University Paris 6 and CREST (Site not responding. Last check: 2007-11-06)
		We introduce a new class of control problems in which the gain depends on the solution of a stochastic differential equation reflected at the boundary of a bounded domain, along directions which are controlled by a bounded variation process.
		We study the problem of finding the minimal initial capital needed in order to hedge without risk a barrier option when the vector of proportions of wealth invested in each risky asset is constraint to lie in a closed convex domain.
		Motivated by an optimal investment problem under time horizon uncertainty and when default may occurs, we study a general structure for an incomplete semimartingale model extending the classical terminal wealth utility maximization problem.
	www.proba.jussieu.fr /pageperso/bouchard/bouchard.htm (3062 words)

	LECTURE #3
		To solve the previous problem, we first will look at a generic problem where we have a function f(x) and we have some constraint C-g(x)=0.
		Since this is an unconstrained maximization problem with respect to x, we know how to solve it.
		Maximize the utility function subject to the given budget constraint.
	socrates.berkeley.edu /~sgoldman/101a/Lectures/03.htm (1682 words)

	econ210a2004fall (Site not responding. Last check: 2007-11-06)
		After a brief overview of the relationship between utility maximization and expenditure minimization, we turn to the last part: production sets and profit maximization of firms.
		A consumer's utility maximization problem and a firm's profit maximization problem are examples of constrained optimization problems.
		Constrained optimization problems are pervasive in economic theory because decision makers almost always maximize something while facing some constraints.
	www.econ.ucsb.edu /~rabbit/econ210a (378 words)

	Utility maximization problem - Wikipedia, the free encyclopedia
		In microeconomics, the utility maximization problem is the problem consumers face: "how should I spend my money in order to maximize my utility?"
		If there is always a unique maximizer, then it is called the Marshallian demand function.
		The relationship between the utility function and Marshallian demand in the Utility Maximization Problem mirrors the relationship between the expenditure function and Hicksian demand in the Expenditure Minimization Problem.
	en.wikipedia.org /wiki/Utility_maximization_problem (311 words)

	Abstracts for 2005 Summer Program: Wireless Communication
		With an abstraction of serving rate-adaptive sources on a broadcast-type wireless channel as a utility maximization problem, it is shown how one can design many intuitive online scheduling policies based upon the feedback that one obtains at the scheduler.
		Using a stochastic approximation argument it is then shown that the constructed algorithms converge to optimal solutions of the utility maximization problem over different sets which critically depend on the quality of the feedback information.
		In terms of operational variables the problem is to select a subset of the users for transmission at each transmission oppurtunity and for each of the users selected, to choose the modulation and coding scheme, transmission power, and number of codes used.
	www.ima.umn.edu /matter/SP6.22-7.1.05/abstracts.html (6009 words)

	[No title]
		In this context, under quasi-concave utility function, equations (3a)-(3b) are necessary and sufficient to identify an interior solution to the household utility maximization problem (2).
		A utility maximizing household would choose x in a way consistent with the maximization problem (2) Maxx {(i (i ln(xi - (i): (i pi xi = y, x (0}.
		They are the implications of utility maximizing behavior for the properties of the Marshallian demand function x*(y, p).
	www.aae.wisc.edu /aae635/Notes\a10Consu1.doc (3542 words)

	What was that about the TCP protocol being used for large numbers of players? - GameDev.Net Discussion Forums
		Let us not forget you were the one how brought the hypothesis that flow on network protocol problems are NP complete, so the burden is on you to prove that in is NP.
		BTW for most those problems like the Traveler salesman, there are algorithms that can find optimal and efficient solutions with upper polynomial time bound, so it does not really matter if finding the best solution is NP problem or not so long another solution as good as the best can be found efficiently and fast.
		While they state that network flow problems can be linearized, a real application on a real network runs on dynamic routes and random variations that are not accounted for.
	www.gamedev.net /community/forums/viewreply.asp?ID=2152136 (1245 words)

	[No title] (Site not responding. Last check: 2007-11-06)
		The utility you receive from each good at various levels of consumption is shown in the table below.
		ANSWER: The MU and MU/P from consuming hamburgers and CDs is shown below.
		To max utility you need to spend all your income.
	utminers.utep.edu /tcford/maxproblem.doc (146 words)

	econ210A2001Winter (Site not responding. Last check: 2007-11-06)
		A consumer's utility maximization problem and a firm's profit maximization problem are examples
		Constrained optimization problems are pervasive in economic theory
		and problem sets 1 to 5 of this year.
	www.econ.ucsb.edu /~troger/210Amainpage2003.html (580 words)

	Expenditure minimization problem - Wikipedia, the free encyclopedia
		In microeconomics, the expenditure minimization problem is the dual problem to the utility maximization problem: "how much money do I need to be happy?".
		Given a consumer's utility function, prices, and a utility target,
		Suppose the consumer has a utility function u defined on L commodities.
	en.wikipedia.org /wiki/Expenditure_minimization_problem (210 words)

	AMCA: Utility maximization for unbounded processes by Biagini Sara (Site not responding. Last check: 2007-11-06)
		When the price processes of the financial assets are described by possibly unbounded semimartingales, the classical concept of admissible trading strategies may lead to a trivial utility maximization problem, since the set of bounded from below stochastic integrals may be reduced to the zero process.
		We translate this attitude into mathematical terms by employing a class HW of W-admissible trading strategies which depends on a loss random variable W. These strategies enjoy good mathematical properties and the losses they could give rise to in the trading are compatible with the preferences of the agent.
		By duality methods we show that the optimal solution exists in K and it can be represented as a stochastic integral that is a uniformly integrable martingale under the minimax measure.
	at.yorku.ca /c/a/o/o/27.htm (289 words)

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