In 2014, utility-scale solar power in California generated 9.9 million megawatt-hours, more than double the amount generated in 2013, and more than five percent of total utility-scale electrical generation in the state.
22.
A more general category for strategic bidding is the " affiliated values model ", in which the bidder's total utility depends on both their individual private signal and some unknown common value.
23.
In the 20th century, neoclassical theorists moved away from an earlier notion suggesting that total utility for a society could be measured in favour of ordinal utility, which hypothesizes merely behaviour-based relations across persons.
24.
Fr�d�ric Bastiat in chapters V and XI of his " Economic Harmonies " ( 1850 ) also develops a theory of value as ratio between services that increment utility, rather than between total utility.
25.
The agents have Quasilinear utility functions; this means that, if the outcome is x and in addition the agent receives a payment p _ i ( positive or negative ), then the total utility of agent i is:
26.
It is assumed that the agents have Quasilinear utility functions; this means that, if the outcome is x and in addition the agent receives a payment p _ i ( positive or negative ), then the total utility of agent i is:
27.
If the rate of increase of the money supply is exactly equal to the rate of increase in goods and services available, no inflation takes place ( we find that the " no inflation " case rarely maximizes total utility though . . . that's complicated ) So the central bank could choose to reduce the rate at which they are expanding the money supply to fight inflation.
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