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preference function

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  • Preference — (also called taste or penchant ) is a concept, used in the social sciences, particularly economics. It assumes a real or imagined choice between alternatives and the possibility of rank ordering of these alternatives, based on happiness,… …   Wikipedia

  • preference — pref·er·ence || prefÉ™rÉ™ns n. favor, liking, fondness; priority, precedence, superior status; something that is preferred, favorite; (Computers) option within a menu that can be individually adjusted and determines the appearance or function… …   English contemporary dictionary

  • Time preference — In economics, time preference (or discounting ) pertains to how large a premium a consumer will place on enjoyment nearer in time over more remote enjoyment.There is no absolute distinction that separates high and low time preference, only… …   Wikipedia

  • Likelihood function — In statistics, a likelihood function (often simply the likelihood) is a function of the parameters of a statistical model, defined as follows: the likelihood of a set of parameter values given some observed outcomes is equal to the probability of …   Wikipedia

  • Social welfare function — In economics a social welfare function can be defined as a real valued function that ranks conceivable social states (alternative complete descriptions of the society) from lowest on up as to welfare of the society. Inputs of the function include …   Wikipedia

  • Revealed preference — theory, pioneered by American economist Paul Samuelson, is a method by which it is possible to discern the best possible option on the basis of consumer behavior. Essentially, this means that the preferences of consumers can be revealed by their… …   Wikipedia

  • Revealed Preference — Die Theorie der Revealed Preference (auf deutsch etwa: Offenbarte Präferenz oder Bekundete Präferenz) dient der Modellierung von Konsumentenentscheidungen ausgehend von beobachtbaren bzw. beobachteten Entscheidungen in der Mikroökonomie. Sie… …   Deutsch Wikipedia

  • Form follows function — is a principle associated with modern architecture and industrial design in the 20th century. The principle is that the shape of a building or object should be primarily based upon its intended function or purpose. Wainwright Building by Louis… …   Wikipedia

  • Hicksian demand function — In microeconomics, a consumer s Hicksian demand correspondence is the demand of a consumer over a bundle of goods that minimizes their expenditure while delivering a fixed level of utility. If the correspondence is actually a function, it is… …   Wikipedia

  • Lateralization of brain function — This article is about specialization of function between the left and right hemispheres of the brain. For specialization of brain function generally, see Localization of brain function. The human brain is divided into two hemispheres–left and… …   Wikipedia

  • social welfare function — A social welfare function is a function from the set of preferences or votes of individuals in a society, to a preference or vote of the society as a whole. It takes us from the ways the individuals separately rank alternatives, to the way the… …   Philosophy dictionary

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