English
New Course
Concept
Utility Optimization
Follow
0
Summary
Utility Optimization
is the process of maximizing or
Minimizing a
Utility Function
, often subject to constraints, to achieve the
Best possible outcome
for a decision-maker. It is widely used in economics and
Operations Research
to determine the most
Efficient allocation of resources
to achieve
Desired Objectives
.
Concepts
Utility Function
Constraints
Marginal Utility
Pareto Efficiency
Lagrange Multiplier
Objective Function
Resource Allocation
Cost-benefit Analysis
Decision Theory
Optimization Problem
Functional Modification
Relevant Degrees
Computer Science and Data Processing 40%
Operational Research 30%
Materials Testing and Economics of Energy 20%
Economic Planning and Policy 10%
Start Learning Journey
Generate Assignment Link
Lessons
Concepts
Suggested Topics
Foundational Courses
Activity
Your Lessons
Your lessons will appear here when you're logged in.
Log In
Sign up