utility

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Utility

A power company that owns or operates facilities used for the generation, transmission, or distribution of electric energy, which is regulated at state and federal levels.

Utility

1. In economics, the level satisfaction the person derives from a good or service. Utility is inherently subjective and thus difficult to measure, but it is important in determining how much supply of a product the market can handle without diminishing demand. Historically, it has been thought that one can quantify the utility of each unit, but some economists disagree with this. See also: Austrian school, Law of Diminishing Marginal Utility.

2. A company that provides electricity, water, or gas to customers. These companies are subject to a number of regulations at the local and national levels. They borrow more than most other companies; thus, a decline in utility stocks is often seen as an indicator of a coming rise in interest rates. See also: Dow Jones Utility Average - DJUA.

utility

A business that provides an essential service, generally under government regulation. Electric companies, gas transmission firms, and local telephone companies are utilities.

utility

  1. the satisfaction or pleasure that an individual derives from the CONSUMPTION of a GOOD or SERVICE. See UTIL, CARDINAL UTILITY, ORDINAL UTILITY, MARGINAL UTILITY, TOTAL UTILITY, UTILITY FUNCTION, DIMINISHING MARGINAL UTILITY.
  2. see PUBLIC UTILITY.
References in periodicals archive ?
3 (b), under the log utility maximization framework, more users are offloaded to the SCBSs.
The red lines in Figure 4A show the budget constraint and the utility maximization problem for such postpay customers.
Given an utility function satisfying Assumption 2 and initial endowment x, the recursive utility maximization problem with bankruptcy prohibition is formulated as the investor chooses a portfolio strategy so as to
The next proposition establishes that the solution to the utility maximization problem of the representative agent, and the solution to the utility maximization problem of each individual described in Section 2.
33) Indeed, seeking one's preferred policy outcome is a form of utility maximization, but one treated separately for the purpose of this analysis.
Following the prior theoretical and empirical work of Douglas and Shepherd (2000, 2002), we employ utility maximization theory as an initial framework for incentives and compensation for corporate entrepreneurship, and propose a corresponding set of direct-effect and moderation hypotheses.
optimal path and average utility maximization with and without constrained actions) and recommended algorithms for their satisfaction.
a) The individuals solve their utility maximization problem as given by Equation 4.
It is a hilariously apt (albeit mildly offensive) diagnosis, and it could be just as well applied to Homo economicus himself, the economic actor envisioned by the neoclassical theory, who performs dazzling calculations of utility maximization despite being entirely unable to communicate with his fellow man.
Consumer behavior is modeled as a process of utility maximization, subject to the constraint imposed by consumer income.
The individual, however, considers profits as fixed in her utility maximization problem.
1983) "Staggered Prices in a Utility Maximization Framework.