[T]he income and happiness relationship is . . . curvilinear . . . with a decreasing marginal utility for higher levels of income . . . . (Diener, Sandvik, Seidlitz, and Diener, 1993, 204; cf. also Diener and Biswas-Diener, 2002, 119) [W]e not only see a clear positive relationship [between happiness and GNP per capita], but also a curvilinear pattern; which suggest that wealth is subject to a ...

background due to the importance and uniqueness of the characteristics of the health sector, one of the most important priorities of the ministry of health is measuring the efficiency and quality of services which are provided for the people who refer to the health sectors. in all health systems, responding to the needs and wishes of patients is a crucial priority. objectives the main purpose o...

The application and estimation of expected utility based decision models would benefit from having additional simple and flexible functional forms to represent risk preferences. The literature so far has provided these functional forms for the utility function itself. This work shows that functional forms for the marginal utility function are as useful, are easier to provide, and can represent ...

BACKGROUND The efficacy of a new pharmacologic agent for asthma, in this instance the leukotriene receptor antagonist montelukast, is determined in controlled trials in research subjects. The utility of a new drug is determined by multiple uncontrollable factors in individual patients. OBJECTIVE To assess the utility of montelukast in the management of persistent asthma. DESIGN Observationa...

Abstract This paper introduces into the discussion of stability quantity-oligopoly equilibrium, role that slope marginal utility curve and market entry in shaping equilibrium its stability. It does so by considering inverse multivariate linear demand functions notion related to mean value theorem. The cluster Cournot sellers is determined dictated this theorem rate decline product under conside...

In most applied cost–benefit analyses, individual willingness to pay (WTP) is aggregated without using explicit welfare weights. This can be justified by postulating a utilitarian social welfare function along with the assumption of equal marginal utility of income for all individuals. However, since marginal utility is a cardinal concept, there is no generally accepted way to verify the plausi...

using a choice experiment survey, the marginal willingness to pay (wtp) among iranian households to avoid power outages is estimated. the results indicate that households prefer lower price of alternatives and the low duration and frequency of outages, and the factors of outage day, outage time and warning in advance of outage are important to households' preferences. moreover, the conditi...

We present a cooperative, multistep negotiation mechanism for multiagent systems. This mechanism uses marginal utility gain and marginal utility cost to structure the negotiation process. This enables an agent to understand another agent’s situation in order to find a solution that increases their combined utility. These two values summarize the agent’s local information and reduce the communic...