“There’s no divorce between marriage and economics,” Professor Pablo Peña said in a virtual presentation organized by the Chicago Economics Forum. And yes, the pun was intentional. The economics of ...

Austrian economists differ with the economic mainstream in many ways, but the break on utility theory is especially critical ...

The last 20 years have seen a dramatic national shift in energy production to renewable sources, particularly wind and solar. That shift has been most pronounced over the last decade and been ...

Elementary economics tells us that a good decision is to maximize utility. Utility refers to how desirable a task or choice is for an individual. Maximizers are people who strive to get the very best ...

Some of the most fundamental assumptions of economics are utility maximization and weak separability of the arguments in the representative consumer's utility function. This paper contains results ...

The American Economic Review is a general-interest economics journal. Established in 1911, the AER is among the nation's oldest and most respected scholarly journals in the economics profession and is ...

Much of modern economic theory is based around a simple idea: Human beings maximize utility. But what is utility? Many people think of it as happiness or pleasure; British philosopher Jeremy Bentham, ...