behovsfunksjon

A behovsfunksjon, often translated as "utility function" in English economic contexts, is a concept used in microeconomics and decision theory to represent the preferences of an individual or a group of individuals. It is a mathematical construct that assigns a numerical value to different bundles of goods and services, where a higher value indicates a greater level of satisfaction or utility. The core idea is that consumers aim to maximize their utility given their budget constraints.

Behovsfunksjoner are not directly observable but are inferred from observed choices. If an individual chooses bundle A over bundle B, it implies that the utility associated with bundle A is greater than or equal to the utility associated with bundle B. The specific form of a behovsfunksjon can vary widely depending on the assumptions made about preferences. For instance, a common assumption is that preferences are complete, transitive, and continuous.

These functions are crucial for analyzing consumer behavior, understanding demand curves, and designing economic policies. For example, by understanding a consumer's behovsfunksjon, economists can predict how changes in prices or income will affect their purchasing decisions. While the concept is powerful, it's important to note that it relies on assumptions about rationality and the measurability of subjective satisfaction, which can be limitations in real-world applications.