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

“There’s no divorce between marriage and economics,” Professor Pablo Peña said in a virtual presentation organized by the Chicago Economics Forum. And yes, the pun was intentional. The economics of ...

Elementary economics tells us that a good decision is to maximize utility. Utility refers to how desirable a task or choice is for an individual. Maximizers are people who strive to get the very best ...

Discover the concept of homo economicus, its origins, and why it's essential in economics. Explore its rational decision-making model and its limitations today.