BUILDING AN INCREASING CONTINUOUS UTILITY FUNCTION

Dimitar Dimitrakiev

doi:10.16984/saufbed.40155

Research Article

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.