Andrew Bloomenthal has 20+ years of editorial experience as a financial journalist and as a financial services marketing writer. Erika Rasure is globally-recognized as a leading consumer economics ...

Why do individuals value bread less than gold, when bread seems to be more important in supporting an individual’s life than gold? To provide an answer to this question, economists refer to the law of ...

Marginal utility in economics is the change in wellbeing (or change in total utility) that a person experiences if they consume one additional unit of a good or service. One of the most basic ideas in ...

The Austrian theory of the "marginal use" is restated and extended. It is found that the Austrian concept of marginal utility (as derived from the marginal use) is not dependent on cardinal utility, ...

William Baumol writes in "Economics: Principles and Policy" that the total monetary utility of a collection of goods to a consumer is equal to the largest amount of money the consumer will pay in ...

This paper investigates how the deteriorating health status of an individual affects the marginal utility of non-medical consumption in China. By using 2011, 2013 and 2015 China Health and Retirement ...