Economics is broadly divided into macroeconomics and microeconomics. The big picture, macroeconomics, concentrates on the behavior of a national or a regional economy as a whole: the totals of goods ...

Brent Radcliffe has 10+ years of experience as both a digital marketing analyst and writer for Investopedia. Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, ...

Learn how economists measure utility using cardinal and ordinal approaches to understand consumer choices and maximize satisfaction from products and services.

Elementary economics tells us that a good decision is to maximize utility. Utility refers to how desirable a task or choice is for an individual. Maximizers are people who strive to get the very best ...

This paper demonstrates how the circumstances of quitting a previous job affect the probability of a later voluntary job change. The theoretical section describes a model of expected utility ...