The equity premium puzzle has confounded economists since its presentation in 1985. Numerous solutions have been offered that challenge the risk aversion coefficient or α. These solutions have been discredited due to “implausibly large” levels of risk aversion. However, when examining the...

Is the perceived value of things an absolute measurable quantity, as in economists’ notion of ‘‘cardinal utility,” or a relative assessment of the various objects being evaluated, as in economists’ notion of ‘‘ordinal utility”? We believe that the answer depends in part upon...

This article reviews economic evidence on health-dependent utility functions and presents new estimates of utility functions for cancer. Estimates of health-dependent utility functions have found that mild adverse health impacts can be treated as monetary equivalents. Severe health consequences...

In this article, we analyze the utility function, the different indifference curves, currency portfolio management and how to balance their thoughts under the Greek Christian Orthodox approach. We are focusing on how irrational investors form investment decisions. According to the Orthodox...