Research Article
BibTex RIS Cite

BUILDING AN INCREASING CONTINUOUS UTILITY FUNCTION

Year 2008, Volume: 12 Issue: 1, 22 - 27, 01.06.2008

Dimitar Dimitrakiev

Abstract

The paper focuses on modern analytical techniques for construction of utility functions over prizes, where the preferences of the decision maker are strictly increasing. If chosen and applied properly these methods facilitate the analysis and guarantee precise description of the decision makers’ preferences. The paper discusses modern analytical techniques, such as a modified arctg(.) form of the utility function, which contains prior information for the most typical risk attitude over lotteries, whose prizes can be both profits and losses. Also discussed is a power approximation of the utility.

Keywords

Utility function lotteries analytical approximation risk attitude local risk aversion

Year 2008, Volume: 12 Issue: 1, 22 - 27, 01.06.2008

Dimitar Dimitrakiev

Abstract

There are 0 citations in total.

Details

Primary Language Turkish
Subjects Engineering
Journal Section Research Articles
Authors

Dimitar Dimitrakiev This is me

Publication Date June 1, 2008
Submission Date April 14, 2014
Published in Issue Year 2008 Volume: 12 Issue: 1

Cite

APA Dimitrakiev, D. (2008). BUILDING AN INCREASING CONTINUOUS UTILITY FUNCTION. Sakarya University Journal of Science, 12(1), 22-27. https://doi.org/10.16984/saufbed.40155
AMA Dimitrakiev D. BUILDING AN INCREASING CONTINUOUS UTILITY FUNCTION. SAUJS. June 2008;12(1):22-27. doi:10.16984/saufbed.40155
Chicago Dimitrakiev, Dimitar. “BUILDING AN INCREASING CONTINUOUS UTILITY FUNCTION”. Sakarya University Journal of Science 12, no. 1 (June 2008): 22-27. https://doi.org/10.16984/saufbed.40155.
EndNote Dimitrakiev D (June 1, 2008) BUILDING AN INCREASING CONTINUOUS UTILITY FUNCTION. Sakarya University Journal of Science 12 1 22–27.
IEEE D. Dimitrakiev, “BUILDING AN INCREASING CONTINUOUS UTILITY FUNCTION”, SAUJS, vol. 12, no. 1, pp. 22–27, 2008, doi: 10.16984/saufbed.40155.
ISNAD Dimitrakiev, Dimitar. “BUILDING AN INCREASING CONTINUOUS UTILITY FUNCTION”. Sakarya University Journal of Science 12/1 (June 2008), 22-27. https://doi.org/10.16984/saufbed.40155.
JAMA Dimitrakiev D. BUILDING AN INCREASING CONTINUOUS UTILITY FUNCTION. SAUJS. 2008;12:22–27.
MLA Dimitrakiev, Dimitar. “BUILDING AN INCREASING CONTINUOUS UTILITY FUNCTION”. Sakarya University Journal of Science, vol. 12, no. 1, 2008, pp. 22-27, doi:10.16984/saufbed.40155.
Vancouver Dimitrakiev D. BUILDING AN INCREASING CONTINUOUS UTILITY FUNCTION. SAUJS. 2008;12(1):22-7.

Sakarya University Journal of Science (SAUJS)