We consider the maximization of a gross substitutes utility function under budget constraints. This problem naturally arises in applications such as exchange economies in mathematical economics and ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Erika Rasure is globally-recognized as a leading consumer economics subject ...

Utility functions offer a means to encode objectives and preferences in investor portfolios. The functions allow one to place a score on outcomes and then identify optimal portfolios by maximizing ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. In economics, demand is the consumer's ...