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This lecture describes what a utility function is, and how we can use it to understand marginal utility and a consumer's choices.

MIT 14.01 Principles of Microeconomics, Fall 2018 Instructor: Prof. Jonathan Gruber * View newer version of the course: ...

Expected utility Video for computing utility numerically https://www.youtube.com/watch?v=0K-u9dpRiUQ Utility and Risk ...

MIT 14.01 Principles of Microeconomics, Fall 2023 Instructor: Prof. Jonathan Gruber View the complete course: ...

Keep going! Check out the next lesson and practice what you're learning: ...

For the entire course on intermediate microeconomics, see http://youtubedia.com/Courses/View/4.

Think about what restricts your choices when it comes to buying goods and services. Your income is one variable. Prices are ...

In this video I explain how to maximize utility given a Cobb-Douglas utility function and a budget constraint.

This video shows how to maximize utility subject to a budget constraint. Channel donations are much ...

Hi guys, I have discussed four types of utility functions with their Indifference Curve and MRS ( Marginal Rate of Substitution) in ...

MathematicalEconomics #IITJAM #NetEconomics #GateEconomics ...

For the entire course on intermediate microeconomics, see http://youtubedia.com/Courses/View/4.

This video describes the iso-elastic utility function that is also called constant relative risk aversion (CRRA) utility function. I plot the ...

MathematicalEconomics #IITJAM #NetEconomics #GateEconomics ...

Welcome to Episode 5 of our Advanced Microeconomics series! In this video, we explore utility functions and provide a ...

A lot of our problems with AI seem to relate to its utility function. Why do we need one of those, anyway? Footage from The ...

I show a trick for finding the Marginal Rate of Substitution function if you have a Cobb Douglas utility function. Works for MRTS ...

When we talked about influence diagram we included in the influence diagram nodes that represent the agent's utility function and ...

This video examines 5 different utility functions, deriving their corresponding marginal utility functions and solving for the marginal ...

This video derives a consumer's indirect utility function. If this video helps, please consider a donation: ...