Utility maximization problemUtility maximization was first developed by utilitarian philosophers Jeremy Bentham and John Stuart Mill. In microeconomics, the utility maximization problem is the problem consumers face: "How should I spend my money in order to maximize my utility?" It is a type of optimal decision problem. It consists of choosing how much of each available good or service to consume, taking into account a constraint on total spending (income), the prices of the goods and their preferences.
Diagnostic and Statistical Manual of Mental DisordersThe Diagnostic and Statistical Manual of Mental Disorders (DSM; latest edition: DSM-5-TR, published in March 2022) is a publication by the American Psychiatric Association (APA) for the classification of mental disorders using a common language and standard criteria. It is the main book for the diagnosis and treatment of mental disorders in the United States and is considered one of the principal guides of psychiatry, along with the ICD, CCMD, and the Psychodynamic Diagnostic Manual.
Windows UpdateWindows Update is a Microsoft service for the Windows 9x and Windows NT families of the Microsoft Windows operating system, which automates downloading and installing Microsoft Windows software updates over the Internet. The service delivers software updates for Windows, as well as the various Microsoft antivirus products, including Windows Defender and Microsoft Security Essentials. Since its inception, Microsoft has introduced two extensions of the service: Microsoft Update and Windows Update for Business.
Expected utility hypothesisThe expected utility hypothesis is a popular concept in economics that serves as a reference guide for decision making when the payoff is uncertain. The theory describes which options rational individuals should choose in a situation with uncertainty, based on their risk aversion. The expected utility hypothesis states an agent chooses between risky prospects by comparing expected utility values (i.e. the weighted sum of adding the respective utility values of payoffs multiplied by their probabilities).
Active usersActive users is a software performance metric that is commonly used to measure the level of engagement for a particular software product or object, by quantifying the number of active interactions from users or visitors within a relevant range of time (daily, weekly and monthly). The metric has many uses in software management such as in social networking services, online games, or mobile apps, in web analytics such as in web apps, in commerce such as in internet banking and in academia, such as in user behavior analytics and predictive analytics.
Asch conformity experimentsIn psychology, the Asch conformity experiments or the Asch paradigm were a series of studies directed by Solomon Asch studying if and how individuals yielded to or defied a majority group and the effect of such influences on beliefs and opinions. Developed in the 1950s, the methodology remains in use by many researchers. Uses include the study of conformity effects of task importance, age, sex, and culture. Many early studies in social psychology were adaptations of earlier work on "suggestibility" whereby researchers such as Edward L.
Natural experimentA natural experiment is a study in which individuals (or clusters of individuals) are exposed to the experimental and control conditions that are determined by nature or by other factors outside the control of the investigators. The process governing the exposures arguably resembles random assignment. Thus, natural experiments are observational studies and are not controlled in the traditional sense of a randomized experiment (an intervention study).
Target marketA target market, also known as serviceable obtainable market (SOM), is a group of customers within a business's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service. The target market typically consists of consumers who exhibit similar characteristics (such as age, location, income or lifestyle) and are considered most likely to buy a business's market offerings or are likely to be the most profitable segments for the business to service by OCHOM Once the target market(s) have been identified, the business will normally tailor the marketing mix (4 Ps) with the needs and expectations of the target in mind.
Medical researchMedical research (or biomedical research), also known as experimental medicine, encompasses a wide array of research, extending from "basic research" (also called bench science or bench research), – involving fundamental scientific principles that may apply to a preclinical understanding – to clinical research, which involves studies of people who may be subjects in clinical trials. Within this spectrum is applied research, or translational research, conducted to expand knowledge in the field of medicine.
Product (business)In marketing, a product is an object, or system, or service made available for consumer use as of the consumer demand; it is anything that can be offered to a market to satisfy the desire or need of a customer. In retailing, products are often referred to as merchandise, and in manufacturing, products are bought as raw materials and then sold as finished goods. A service is also regarded as a type of product. In project management, products are the formal definition of the project deliverables that make up or contribute to delivering the objectives of the project.
