Lewandowski, Michał - In: Central European Journal of Economic Modelling and … 5 (2013) 1, pp. 1-34
This paper defines the concept of simple strategy and introduces three kinds of simple strategies: wealth-invariant, scale-invariant and "wealthier-accept more". For three commonly used utility function families: CARA, CRRA and DARA equivalent characterizations are obtained in terms of the...