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A utility model is a statutory exclusive right granted for a limited period of time (the so-called "term") in exchange for an inventor providing sufficient teaching of his or her invention to permit a person of ordinary skill in the relevant art to perform the invention. The rights conferred by utility model laws are similar to those granted by ...
Random utility model. In economics, a random utility model ( RUM ), [1] [2] also called stochastic utility model, [3] is a mathematical description of the preferences of a person, whose choices are not deterministic, but depend on a random state variable.
Utility computing, or computer utility, is a service provisioning model in which a service provider makes computing resources and infrastructure management available to the customer as needed, and charges them for specific usage rather than a flat rate. Like other types of on-demand computing (such as grid computing), the utility model seeks to ...
Choice modelling attempts to model the decision process of an individual or segment via revealed preferences or stated preferences made in a particular context or contexts. Typically, it attempts to use discrete choices (A over B; B over A, B & C) in order to infer positions of the items (A, B and C) on some relevant latent scale (typically ...
The model is the same as model F except that the unobserved component of utility is correlated over alternatives rather than being independent over alternatives. U ni = βz ni + ε ni , The marginal distribution of each ε ni is extreme value , [nb 1] but their joint distribution allows correlation among them.
The expected utility hypothesis is a foundational assumption in mathematical economics concerning decision making under uncertainty. It postulates that rational agents maximize utility, meaning the subjective desirability of their actions. Rational choice theory, a cornerstone of microeconomics, builds this postulate to model aggregate social ...
Utility system. In video game AI, a utility system, or utility AI, is a simple but effective way to model behaviors for non-player characters. Using numbers, formulas, and scores to rate the relative benefit of possible actions, one can assign utilities to each action. A behavior can then be selected based on which one scores the highest ...
In economics, utility is a measure of the satisfaction that a certain person has from a certain state of the world. Over time, the term has been used in at least two different meanings. In a normative context, utility refers to a goal or objective that we wish to maximize, i.e. an objective function.