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SSRN Electronic Journal, 2022 We approximate the utility function by polynomial series and solve the related dynamic portfolio optimization problems. We study the quality of the Taylor and Bernstein series approximation in response to the points and degrees of the expansions and generalize from earlier expansions applied to portfolio optimization.
ALEXANDER S. LOLLIKE, MOGENS STEFFENSEN
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SSRN Electronic Journal, 2006 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Manel Baucells, Lloyd S. Shapley
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Utility, Futility, Counter-utility
Counterfutures, 2022Review of Neil Vallelly, Futilitarianism: Neoliberalism and the Production of Uselessness. Futility as both dominant structure of feeling and fulcrum for political action in the twilight of neoliberalism.
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SSRN Electronic Journal, 2008 A number of authors have suggested that investors derive utility from realizing gains and losses on assets that they own. We present a model of this "realization utility," analyze its predictions, and show that it can shed light on a number of puzzling facts.
Nicholas C. Barberis, Wei Xiong
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Theory and Decision, 2013 The topic of the article is related to converting deterministic economic theory into an econometric model. The author considers the commonly used method to add a random error term on the utility scale and proposes a modification of this method to account for stochastic dominance.
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Management Science, 1968
Utility theory is interested in people's preferences or values and with assumptions about a person's preferences that enable them to be represented in numerically useful ways. The first two sections of this paper say more about what utility is, why people are interested in it, and how it is interpreted and used in the management and behavioral ...
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Utility theory is interested in people's preferences or values and with assumptions about a person's preferences that enable them to be represented in numerically useful ways. The first two sections of this paper say more about what utility is, why people are interested in it, and how it is interpreted and used in the management and behavioral ...
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The Clinical Utility of Utility Assessment
Medical Decision Making, 1982The usefulness of utility assessment as a method for revealing individual patients' desires is limited by two methodological problems. Different utility assessment methods can yield inconsistent results, both within a single clinical context and in different contexts; and the methods may not reflect universal rules that a patient may wish to abide by ...
H, Bursztajn, R M, Hamm
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, 2007 A major virtue of von Neumann-Morgenstern utilities, for example, in the theory of general financial equilibrium (GFE), is that they ensure time consistency: consumption-portfolio plans (for the future) are in fact executed (in the future) — assuming that there is perfect foresight about relevant endogenous variables. This paper proposes an alternative
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Utility, induced utilities, and small worlds
Behavioral Science, 1965Abstract : Decision theory in its present state of development fails to provide sufficient criteria for the unique formulation of a decision problem. The resulting ambiguity may lead to quite disparate interpretations of the same decision task by different individuals.
M, Toda, E H, Shuford
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