utility theory

Definition

A theory used in economics that holds the belief that an item or service's utility is a measure of the satisfaction that the consumer will derive from the consumption of that particular good or service.

Use utility theory in a sentence

You should try and see if there is any way that you can make the utility theory work in your best interests.

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We felt we were in a unique position as our customers appreciated our services greatly, utility theory confirms our thoughts.

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We studied utility theory and came to come interesting conclusions that could affect the course of our product line in the future.

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utility maximization utility value