utility maximization

Maximizing expected utility over a knapsack constraint

  • Shabbir Ahmed
  • Jiajin Yu
    • Categories Approximation Algorithms, Integer Programming, Stochastic Programming Tags , , , ,

    The expected utility knapsack problem is to pick a set of items whose values are described by random variables so as to maximize the expected utility of the total value of the items picked while satisfying a constraint on the total weight of items picked. We consider the following solution approach for this problem: (i) … Read more

    Two new proofs of Afriat’s theorem

  • A. Fostel
  • H.E. Scarf
  • Michael J. Todd
    • Categories Finance and Economics, Graphs and Matroids, Linear Programming Tags , ,

    We provide two new, simple proofs of Afriat’s celebrated theorem stating that a finite set of price-quantity observations is consistent with utility maximization if, and only if, the observations satisfy a variation of the Strong Axiom of Revealed Preference known as the Generalized Axiom of Revealed Preference. Citation Technical Report No. 1381, School of Operations … Read more