- published: 16 Jan 2012
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In economics, utility is a representation of preferences over some set of goods and services. Preferences have a utility representation so long as they are transitive, complete, and continuous.
Utility is usually applied by economists in such constructs as the indifference curve, which plot the combination of commodities that an individual or a society would accept to maintain a given level of satisfaction. Individual utility and social utility can be construed as the value of a utility function and a social welfare function respectively. When coupled with production or commodity constraints, under some assumptions, these functions can be used to analyze Pareto efficiency, such as illustrated by Edgeworth boxes in contract curves. Such efficiency is a central concept in welfare economics.
In finance, utility is applied to generate an individual's price for an asset called the indifference price. Utility functions are also related to risk measures, with the most common example being the entropic risk measure.
Data ( /ˈdeɪtə/ DAY-tə, /ˈdætə/ DA-tə, or /ˈdɑːtə/ DAH-tə) are values of qualitative or quantitative variables, belonging to a set of items. Data in computing (or data processing) are often represented by a combination of items organized in rows and multiple variables organized in columns. Data are typically the results of measurements and can be visualised using graphs or images. Data as an abstract concept can be viewed as the lowest level of abstraction from which information and then knowledge are derived. Raw data, i.e., unprocessed data, refers to a collection of numbers, characters and is a relative term; data processing commonly occurs by stages, and the "processed data" from one stage may be considered the "raw data" of the next. Field data refers to raw data collected in an uncontrolled in situ environment. Experimental data refers to data generated within the context of a scientific investigation by observation and recording.
The word data is the plural of datum, neuter past participle of the Latin dare, "to give", hence "something given". In discussions of problems in geometry, mathematics, engineering, and so on, the terms givens and data are used interchangeably. Such usage is the origin of data as a concept in computer science or data processing: data are numbers, words, images, etc., accepted as they stand.
White light goin' messin' up my mind
don't you know, it's gonna make me go blind
White heat, goin' down to my toes
Lord have mercy, white light had it, goodness knows
White light goin' down to my brain
hey, don't you know it's gonna make me insane
White heat, down to my toes
Lord have mercy, white light had it, goodness knows
forget it
White light
Ooohhh, white light
Ahhh, white heat
Ooohhh, yeah, white light
White light goin' messin' up my mind
don't you know, it's gonna make me go blind
White light, goin' down to my toes
Lord have mercy, white light had it, goodness knows
White light goin' messin' up my brain
don't you know it's gonna make me insane
White heat, goin' down to my toes
Lord have mercy, white light had it, goodness knows
forget it
Ooohhh, white light
Yeah, aaah, white light
White heat
Oh, baby, white light
white light, now, now, now
White light goin' messin' up my mind
don't you know, it's gonna make me go blind
White heat, goin' down to my toes
Lord have mercy, white light had it, goodness knows
White light goin' down to my brain, ooohhh
Oh, don't you know it's gonna make me insane
White heat, goin' down to my toes
Lord have mercy, white light had it, goodness knows
forget it
White light
Ooohhh, white light
Ooohhh, baby, white heat
Yeah, white light