Discover the concept of utility in microeconomics, exploring its origins, types, and applications to analyze consumer ...

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

Mathematics of Operations Research, Vol. 41, No. 1 (February 2016), pp. 146-173 (28 pages) This paper investigates the problem of maximizing expected terminal utility in a (generically incomplete) ...

We study a stochastic network that consists of two servers shared by two classes of jobs. Class 1 jobs require a concurrent occupancy of both servers while class 2 jobs use only one server. The ...