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A CLASS OF UTILITY FUNCTIONS CONTAINING ALL THE COMMON UTILITY FUNCTIONS.
- Source :
- Management Science; Aug1987, Vol. 33 Issue 8, p955-964, 10p
- Publication Year :
- 1987
-
Abstract
- This paper presents a class of utility functions (class A[sub ∞]) that contains all of the utility functions commonly used for mathematical modeling: the class consisting of those utility functions whose derivatives alternate in sign. A simple representation via mixtures of exponential utilities is provided for this class which is both mathematically convenient and conducive to functional operations. A connection with Laplace transforms and the resultant implications for preference relations, aggregation and utility assessment are discussed. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 00251909
- Volume :
- 33
- Issue :
- 8
- Database :
- Complementary Index
- Journal :
- Management Science
- Publication Type :
- Academic Journal
- Accession number :
- 7160662
- Full Text :
- https://doi.org/10.1287/mnsc.33.8.955