Fact checked by Ariel Courage Reviewed by Erika Rasure What Is Utility Function? In economics, the utility function measures the welfare or satisfaction of a consumer as a function of the ...

The concepts of conditional risk aversion, the conditional risk premium, and risk independence pertaining to multiattributed utility functions are defined. The latter notion is then generalized to ...

The utility function can be used to derive the demand function, and both concepts relate to utility maximization.