utility
In decision scienceThe term behavioral decision sciencesThe term behavioral decision sciences refers to an interdisciplinary field that combines psychology, economics, statistics, computer science, and management science to understand how individuals, groups,... More refers to an interdisciplinary field that combines psychology, economics, statistics, computer science, and management science to understand how individuals, groups,… More, “utility” refers to a quantitative measure representing an individual’s preference or satisfaction with respect to a particular outcome. In this framework, utility is distinguished from “value,” which […]