STOCHASTIC EFFICIENCY ANALYSIS USING MULTIPLE UTILITY FUNCTIONS

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.

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Year of publication:	2004
Authors:	Schumann, Keith D. ; Richardson, James W. ; Lien, Gudbrand D. ; Hardaker, J. Brian
Institutions:	Agricultural and Applied Economics Association - AAEA
Subject:	Research Methods/ Statistical Methods

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Extent:	application/pdf
Series:	2004 Annual meeting, August 1-4, Denver, CO.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 2004 Annual meeting, August 1-4, Denver, CO Number 19957
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005536089