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Concept information

... > social science subjects > politics and international relations > political science > ideologies > libertarianism > libertarianism and policy > law and economics > utility maximization
... > social science subjects > business and management > organization studies > organization studies encyc > approaches to organization theory > organizational economics > law and economics > utility maximization
... > social science subjects > business and management > organization studies > organization studies encyc > organizational economics > law and economics > utility maximization
... > social science subjects > criminology and criminal justice > criminology > law and society > law and economics > utility maximization
... > social science subjects > politics and international relations > political science > law and courts > law and society > law and economics > utility maximization

Preferred term

utility maximization  

Definition(s)

  • In economics, utility is a measure of the happiness or satisfaction gained from the consumption of goods. In the model of individual utility maximization, economists assume that homo economicus is rational and self-interested and thus tends optimally to satisfy his or her needs under the given conditions. [Source: Encyclopedia of Law & Society: American and Global Perspectives; Utility Maximization]

Broader concept(s)

Belongs to group

URI

http://data.loterre.fr/ark:/67375/N9J-ZDNN5B9W-K

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