This paper provides simpler and more general preference foundations for difference representations than known before and shows how to obtain cardinal utility from those difference representations. In ...

Fact checked by Ariel Courage Reviewed by Erika Rasure What Is Utility Function? A utility function measures a consumer’s preference and satisfaction with different goods or services. As part of ...

An axiomatic model is presented in which a utility function over consequences, unique up to location and unit, is derived. The assumptions apply to a binary relation over purely subjective acts, ...