The Flexible Three Parameter Utility Function

This brief paper introduces a flexible three parameter utility function, the FTP, which has a reasonably simple mathematical expression. It can be seen as a generalisation of the PRA utility function of Xie (2000), but it is more flexible. It encompasses other systems of utility functions including the HARA family and it can incorporate properties such as subsistence and saturation.

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Year of publication:	2007
Authors:	Conniffe, Denis
Published in:	Annals of Economics and Finance. - China Economics and Management Academy, ISSN 1529-7373. - Vol. 8.2007, 1, 4, p. 57-63
Publisher:	China Economics and Management Academy
Subject:	Risk aversion properties \| FTP utility functions

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	B41 - Economic Methodology ; C60 - Mathematical Methods and Programming. General
Source:	RePEc - Research Papers in Economics

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