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A Time/Utility Function (TUF), née Time/Value Function, specifies the application-specific utility that an action (e.g., computational task, mechanical movement) yields depending on its completion time. [1] [2] TUFs and their utility interpretations (semantics), scales, and values are derived from application domain-specific subject matter ...
In economics, utility is a measure of a certain person's satisfaction from a certain state of the world. Over time, the term has been used with at least two meanings. In a normative context, utility refers to a goal or objective that we wish to maximize, i.e., an objective function.
Formally, exponential discounting occurs when total utility is given by ({} =) = = (()) where c t is consumption at time t, δ is the exponential discount factor, and u is the instantaneous utility function.
Necessary time refers to the time required to maintain one’s self as it applies to activities such as eating, sleeping, and cleansing and to a large extent exercising. People who commute using necessary time may feel that the commute is an important activity for personal well-being and may also take into account the well-being of the natural ...
Discounted utility calculations made for events at various points in the future as well as at the present take the form = (), where u(x t) is the utility of some choice x at time t and T is the time of the most distant future
The utilization factor or use factor is the ratio of the time that a piece of equipment is in use to the total time that it could be in use. It is often averaged over time in the definition such that the ratio becomes the amount of energy used divided by the maximum possible to be used. These definitions are equivalent.
Given a utility function (), where denotes consumption level, the EIS is defined as = ′ ″ Notice that this definition is the inverse of relative risk aversion.. We can define a family of utility functions, which may be understood as inverse CRRA utility: = {() =
Time-sharing was the first time that multiple processes, owned by different users, were running on a single machine, and these processes could interfere with one another. [44] For example, one process might alter shared resources which another process relied on, such as a variable stored in memory. When only one user was using the system, this ...