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Stochastic Efficiency Analysis Using Multiple Utility Functions

Year: 2004

Type: preprint

Abstract: Evaluating the risk of a particular decision depends on the risk aversion of the decision maker related to the underlying utility function. The objective of this paper is to use stochastic efficiency with respect to a function (SERF) to compare the ranking of risky alternatives using alternative utility functional forms.

Source: RePEc: Research Papers in Economics

DOI: 10.22004/ag.econ.19957

Authors: Schumann, Keith D., Richardson, James W., Lien, Gudbrand D., Hardaker, J. Brian

Language: English

Topic: Decision-Making and Behavioral Economics

Subfield: General Decision Sciences

Field: Decision Sciences

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W2145896846

Cites: 10

Cited by: 21

Related to: 10