CPSC 873 John D. McGregor S20 More measurement. Utility is a term used by economists to describe the measurement of "useful-ness" that a consumer obtains.

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CPSC 873 John D. McGregor S20 More measurement

Utility is a term used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good we usually say that an individual is "rational" if that individual maximizes utility in their decisions How do we measure this?

Usually there is a tradeoff between cost and value, i.e., is Value > Cost What is the utility of open source software? – Time savings – Error elimination – …