noun
utility function
Technical term in economics and decision theory; a mathematical function that ranks alternatives by preference or satisfaction.
効用関数を使って消費者の選択を分析する。
We analyze consumer choice using a utility function.
効用 means 'utility' or 'usefulness' in a broader sense, while 効用関数 specifically refers to the mathematical function.
Compound of 効用 (utility) and 関数 (function), a direct translation of the English term 'utility function'.