Browsing Business and Economics by Subject "Utility Theory"

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    • An Elementary Proof That Well-Behaved Utility Functions Exist 

      Voorneveld, Mark; Weibull, Jörgen W. (Scientific Research, 2016-06)
      Starting from an intuitive and constructive approach for countable domains, and combining this with elementary measure theory, we obtain an upper semi-continuous utility function based on outer measure. Whenever preferences ...

    • When Utility Jumps: The Value of Having Cash in the Hand 

      Rotthoff, Kurt W.; Coffey, Bentley (Scientific Research, 2018-02)
      Different theoretical explanations have been developed for seemingly inconsistent actions that deal with varying levels of risk and time. We propose a simple model of utility that unifies these seemingly separate ...