If you’re shopping for a new dishwasher, you might be thrilled to save a few hundred bucks on a model you like during a big sale. But there’s almost no chance that you would buy the same dishwasher ...

Learn how changes in income impact satisfaction and understand the principles behind the marginal utility of income in modern economies.

You don't need to have studied economics to be familiar with the law of diminishing marginal utility and the idea of consumer surplus. The first has to do with the benefit consumers get from their ...

The present work takes place in the framework of a non-expected utility model under risk: the RDEU theory (Rank Dependent Expected Utility, first initiated by Quiggin under the denomination of ...

Forbes contributors publish independent expert analyses and insights. A former Dallas Fed president, I cover the economy. This is not an argument for more quantitative easing, or QE3, as it would ...

Understand the key differences between marginal utility and marginal benefit—how they affect pricing, consumer behavior, and decision making in economics.