2 Decision Theory

Thorsten Hens and Marc Oliver Rieger
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Thorsten Hens: University of Zurich
Marc Oliver Rieger: University of Trier

A chapter in Solutions to Financial Economics, 2019, pp 5-9 from Springer

Abstract: Abstract Consider the following game: you roll a dice, if you roll a 6, you win 6 million € otherwise you win nothing. You can play only once. Let us assume your expected utility function is given by u(x) =log10 x (base 10 logarithm, i.e., log10(10n) = n) and your initial wealth is 10,000 €.

Date: 2019
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DOI: 10.1007/978-3-662-59889-4_2

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