Expected Utility Theory
A theory in economics that models how rational individuals make decisions under risk by maximizing the expected utility of their choices.
28 topics found for
“utility maximization”
Standard Economic Model
A theoretical framework in economics that assumes individuals act rationally and seek to maximize utility, used to predict economic behavior and outcomes.
Homo Economicus
A theoretical concept in economics that portrays humans as rational and self-interested agents who aim to maximize their utility.
WSJF
Weighted Shortest Job First (WSJF) is a prioritization method used in agile and lean methodologies to maximize value by comparing the cost of delay to the duration of tasks.
Lean Management
A methodology that focuses on minimizing waste and maximizing value in business processes.
Decision Utility
The value or satisfaction derived from a decision, influencing the choices people make.
Kanban
A visual workflow management method used to visualize work, limit work-in-progress, and maximize efficiency.
Multichannel Marketing
A marketing strategy that uses multiple channels to reach and engage customers, such as email, social media, and websites.
Value vs. Complexity
A prioritization framework used to assess and compare the value a feature will deliver to users against the complexity and cost of implementing it.