Normally Distributed Admissible Choices are Optimal

James N. Bodurtha () and Qi Shen ()
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James N. Bodurtha: Georgetown University
Qi Shen: Wachovia Bank Corporation

A chapter in The Mathematics of Preference, Choice and Order, 2009, pp 73-83 from Springer

Abstract: Generally accepted observable behavior has led to the following classes of continuously differentiable utility functions, u (•): I. Nonsatiation axiom: u′ > 0 II. Risk aversion: u′ > 0, u″ b.

Date: 2009
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DOI: 10.1007/978-3-540-79128-7_5

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