A note on concave utility functions
نویسندگان
چکیده
منابع مشابه
A note on concave utility functions
The classical theory of preference among monetary bets represents people as expected utility maximizers with concave utility functions. Critics of this account often rely on assumptions about preferences over wide ranges of total wealth. We derive a prediction of the theory that bears on bets at any fixed level of wealth, and test the prediction behaviorally. Our results are discrepant with the...
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ژورنال
عنوان ژورنال: Mind & Society
سال: 2005
ISSN: 1593-7879,1860-1839
DOI: 10.1007/s11299-005-0006-7