Nutzenmaximierungsperspektive

Nutzenmaximierer is a term used in economics and decision theory to describe an agent who chooses actions with the aim of maximizing a utility function, representing the agent's preferences over possible outcomes. In English, the term is commonly rendered as "utility maximizer." The concept is a core assumption of rational choice theory and microeconomic analysis.

Mathematically, a utility maximizer selects among a feasible set of options to maximize U(x). In a simple consumer problem, the agent solves max U(x) subject to a budget constraint p · x ≤ I and non-negativity x ≥ 0. The solution is characterized by tangency conditions and the marginal rate of substitution equaling the price ratio.

When outcomes are uncertain, the agent is assumed to maximize expected utility: max E[U(O)]. This framework underpins expected utility theory, von Neumann–Morgenstern axioms, and models of risk aversion, where U is concave in wealth. Alternative theories, such as prospect theory, challenge some assumptions of risk neutrality and linear probability weighting.

Applications include the analysis of consumer demand, investment choices, labor supply, and strategic behavior in game theory. Utility maximizers are also used in mechanism design and welfare economics to predict how individuals respond to policies and incentives.

Critiques note that real-world behavior often deviates from the idealized model due to limited information, time constraints, cognitive biases, or imperfect preferences. Extensions and alternatives seek to incorporate bounded rationality, social preferences, and behavioral regularities.