The Business of Life

Make better, more informed and effective personal life decisions by applying business, economy and engineering theories.

How to Shop Based on Utility Theory and Make a Rational Decision?

Posted on April 4, 2020
Buying itemas based on utility theory

Are you often feeling the full blow of the Paradox of Choice in your life? Do you put off important decisions because there are simply too many alternatives? I know I do... and one solution is using simple utility theory concepts to compare apples with apples using the framework of our objective needs. (more…)

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