Local Utility Functions and Local Probability Transformations

John Quiggin () and Robert G Chambers ()

Journal of Risk and Uncertainty, 2003, vol. 27, issue 2, pages 111-20

Abstract: This note shows that, under appropriate conditions, preferences may be locally approximated by the linear utility or risk-neutral preference functional associated with a local probability transformation. Copyright 2003 by Kluwer Academic Publishers

Date: 2003

Downloads: (external link)
http://journals.kluweronline.com/issn/0895-5646/contents link to full text (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:kap:jrisku:v:27:y:2003:i:2:p:111-20

Access Statistics for this article

Journal of Risk and Uncertainty is edited by W. Kip Viscusi

More articles in Journal of Risk and Uncertainty from Springer
Series data maintained by Christopher F. Baum ().