Content about “

utility function

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Now it's the turn of mathematicians to help to improve the communities of the future.

A hundred pounds is a lot more to someone who's poor than to a millionaire. But how do you measure such differences? Utility theory has the answer.

One thing that makes TV game shows fun to watch is that there's usually an element of luck involved. But how (un)lucky is (un)lucky? We look at the probabilities of two popular examples.

Just over 220 years have passed since the death of one of the most distinguished mathematicians in history: Daniel Bernoulli, who died on March 17th, 1782. The name of Bernoulli asks for precision since the family from Basle produced no fewer than eight outstanding mathematicians within three generations.