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Utility functions whose parameters depend on initial wealth
- Source :
- Bulletin of Economic Research. Oct, 2003, Vol. 55 Issue 4, p357, 15 p.
- Publication Year :
- 2003
-
Abstract
- The article examines a new form of utility function that has parameters dependent on initial wealth, unlike conventional utility functions that rely on definitions of final wealth. Discussion includes exponential and quadratic utility functions with robust risky assets and decreasing risk aversion.
Details
- Language :
- English
- ISSN :
- 03073378
- Volume :
- 55
- Issue :
- 4
- Database :
- Gale General OneFile
- Journal :
- Bulletin of Economic Research
- Publication Type :
- Academic Journal
- Accession number :
- edsgcl.108681185