Search Results - subject_exact:"Utility"

Early history of demand theory : anti-psychologist thesis reconsidered

Hudík, Marek - 2025

According to a widely shared view, the development of demand theory in the first half of the twentieth century was heavily influenced by the anti-psychological attitudes of economists. I call this view 'anti-psychologist thesis,' and I criticize it on several grounds. I propose an alternative...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015548988

Evolution and theoretical implications of the utility concept

Di Foggia, Giacomo; Arrigo, Ugo; Beccarello, Massimo - 2025

We review the evolution of the concept of utility in economics, addressing the conceptual and terminological fragmentation that characterises the interdisciplinary debate. This study adopts the scoping review framework to systematically analyse the main theoretical approaches, ranging from...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015475213

Welfare vs. utility

Dietrich, Franz - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015357360

Optimal rebalancing strategies reduce market variability

Holden, Helge; Holden, Lars - 2025

The increasing fraction of passive funds influences stock market variability since passive investors behave differently than active investors. We demonstrate via simulations how portfolios that rebalance between different classes of assets influence the market variability. We prove that the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015654751

Complementarity, heterogeneity, and multipliers : utility for hank

Bilbiie, Florin; Hanks, Fergal; Lavender, Sean - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015553592

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Complementarity, heterogeneity, and multipliers : utility for HANK

Bilbiie, Florin; Hanks, Fergal; Lavender, Sean - 2025

Book / Working Paper

Subjective probability distributions of nonlinear payoffs : Recovering option payoff, agent’s utility, and pricing kernel distributions

Yamazaki, Akira - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015372650

Multivariate Affine GARCH in portfolio optimization : analytical solutions and applications

Escobar, Marcos; Yang, Yu-Jung; Zagst, Rudi - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015374358

Symmetric expected utility

Preker, Jurek - 2026

We investigate and axiomatize preferences that display indifference between deterministic states, but exhibit strict orderings over lotteries over these states. Such preferences might be due to the ability to adopt to states, or a (dis)taste for uncertainty. We derive a representation theorem...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015588344

Designing of an investment trust : theoretical foundations

Takata, Fujio - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015604924

Towards a realistic view of consumer behaviour

Sheaff, Rod - 2025

Marginal utility (MU) theories of consumer demand assume that consumers try to maximise a generic benefit ('utility') by selecting purchases giving equal MU per unit of cost, from which are predicted the observed relationships between price changes and quantities of demanded consumer goods....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015376340

Expected balanced uncertain utility

Grant, Simon; Roorda, B.; Yang, Jingni - 2025

We introduce and analyze expected balanced uncertain utility (EBUU) theory. A prior and a balanced outcome-set utility characterize an EBUU decision maker. Conditional on a reference or "balancing value," the latter assigns a utility to each outcome-set. The decision maker associates with each...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015332578

Judging social priority and the marginal utility of income among individuals

Hammitt, James K. - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015605611

Separating discounting from changing utility

Webb, Craig S. - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015638829

Some notes on Savage's representation theorem

Frahm, Gabriel; Hartmann, Lorenz - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015333320

The Saint Petersburg paradox and its solution

Mattalia, Claudio - 2025

This article describes the main historical facts concerning the Saint Petersburg paradox, the most important solutions proposed thus far, and the results of new experimental evidence and a simulation of the game that shed light on a solution for this paradox. The Saint Petersburg paradox has...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015334556

Process utility in high-stakes competition

Dupuy, Arnaud - 2026

We study how individuals trade off outcome (what) and process (how) utility in highstakes strategic decisions. We exploit optimality conditions and high-frequency choices in professional tennis to derive nonparametric bounds on process utility and implement a structural approach to estimate...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641410

The parlay puzzle : expected utility and multi-leg betting

Whelan, Karl - 2026

Multi-leg parlay bets have become hugely popular in the US despite loss rates on stakes that are four times higher than regular bets. This paper shows that even if bettors believe they have an edge, maximization of subjective expected utility requires placing separate bets when per-leg win...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015644689

Econometrics of insurance with multidimensional types

Aryal, Gaurab; Perrigne, Isabelle; Vuong, Quang H.; … - 2025

In this paper, we address the identification and estimation of insurance models where insurees have private information about their risk and risk aversion. The model includes random damages and allows for several claims, while insurees choose from a finite number of coverages. We show that the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015190336

Attention-entropy random utility : endogenous attention and context effects in discrete choice

Ghaderi, Mohammad - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015655632

Strategies with minimal norm are optimal for expected utility maximisation under high model ambiguity

Carassus, Laurence; Wiesel, Johannes - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015394809

Stick and stay, make it pay? : time preferences and marginal (dis)utility of relative concerns

Akay, Alpaslan; Kartal, Nur Banu - 2026

Individuals' preferences for immediate gratification versus their ability to postpone it, i.e., time preferences, might be related to their marginal utility or disutility stemming from an increase in the income of comparable others, i.e., relative concerns. We argue that while an increase in...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015647573

The market's implied loss aversion under power-log utility investor preferences

Kale, Jivendra K. - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015418401

Ambiguity and the value of late resolution of uncertainty

Kochov, Asen - 2026

The paper shows that in a dynamic setting with multiple sources of uncertainty, recursive ambiguity-averse preferences may imply a preference for late resolution of uncertainty. In particular, the simultaneous resolution of two sources can offer hedging benefits that are negated when one source...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015674931

Positive endogenous ethics : Smith's unique contribution to moral analysis

Witztum, Amos - 2025

There are two elements which make Smith's ethics unique as well as more universal in nature. The first is that it is a positive theory of ethics in the sense that it is not about what is intrinsically good or just as it is about the way in which people form their opinion about it. The second is...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015423393

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Positive Endogenous Ethics: Smith's Unique Contribution to Moral Analysis

Witztum, Amos - 2023

Article

Mean-field price formation on trees with multi-population and non-rational agents

Fujii, Masaaki - 2026 - This version: July 15, 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015675767

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Mean-field price formation on trees : with multi-population and non-rational agents

Fujii, Masaaki - 2025 - This version: November 4, 2025

Edition: This version: November 4, 2025

Book / Working Paper

The savings rate in a discrete-time Ramsey economy with CRRA preferences and full depreciation

Queirós, Francisco - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015466980

Expected utility without assuming continuity

Bauch, Gerrit Manfred - 2026

I provide an axiomatization of expected utility in which topological continuity is replaced by a geometric axiom. The axiom requires a finite set of indifferent lotteries that span a hyperplane. In the case of three prizes, two indifferent lotteries suffice. The axiom is weaker than Solvability,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016059673

Scanner data and the construction of inter-regional price indexes

Diewert, Walter E.; Abe, Naohito; Tonogi, Akiyuki; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015474176

What can empirical utility functions tell us about the value of a statistical life?

Elvik, Rune - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015447616

Utility under the Dark Tetrad

Gomes, Orlando - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015414310

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Utility under the Dark Tetrad

Gomes, Orlando - 2025

Article

Comparing EQ-5D-5L, PROPr, SF-6D and TTO utilities in patients with chronic skin diseases

Szabó, Ákos; Brodszky, Valentin; Rencz, Fanni - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015448056

Rowing with and against the flow: fatherhood of daughters and perception about women

Okara, Assi; Tani, Massimiliano; Mbaye, Linguère Mously - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015436841

Cancer-specific utility : clinical validation of the EORTC QLU-C10D in patients with glioblastoma

Seyringer, Simone; Pilz, Micha J.; Bottomley, Andrew; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015448484

Evolution and Theoretical Implications of the Utility Concept

Di Foggia, Giacomo; Arrigo, Ugo; Beccarello, Massimo - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015461822

Indexical utility : another rationalization of exponential discounting

Spohn, Wolfgang - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015450283

Information without rents: mechanism design without expected utility

Rivera Mora, Ernesto; Strack, Philipp - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015616759

Are long-lived persons utility monsters?

Ponthière, Grégory - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015450312

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Are long-lived persons utility monsters?

Ponthière, Grégory - 2022

Book / Working Paper

Mean-field equilibrium price formation with exponential utility

Fujii, Masaaki; Sekine, Masashi - 2025 - This version: January 6, 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015164456

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Mean-field equilibrium price formation with exponential utility

Fujii, Masaaki; Sekine, Masashi - 2023

Book / Working Paper

Mean-field equilibrium price formation with exponential utility

Fujii, Masaaki; Sekine, Masashi - 2023 - The first version: 14 April, 2023

Edition: The first version: 14 April, 2023

Book / Working Paper

Non-user utility and market power : the case of smartphones

Bursztyn, Leonardo; Jiménez Durán, Rafael; Leonard, Aaron - 2025

Firms can increase the demand for their products and consolidate their market power not only by increasing user utility but also by decreasing non-user utility. In this paper, we examine this mechanism by considering the case of smartphones. In particular, Apple has faced criticism for allegedly...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015372534

Utility under the Dark Tetrad

Gomes, Orlando - 2025

Purpose Literature on psychology highlights four traits that shape an amoral and antisocial personality: Machiavellianism, narcissism, psychopathy and sadism. Together, these personality traits form the Dark Tetrad. In this study, the standard intertemporal utility maximization model is...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015410405

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Utility under the Dark Tetrad

Gomes, Orlando - 2025

Article

Behavioral dynamic portfolio selection with S-shaped utility and epsilon-contaminations

Cinfrignini, Andrea; Petturiti, Davide; Vantaggi, Barbara - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015433318

Risky intertemporal choices have a common value function, but a separate choice function

Fidanoski, Filip; Dixit, Vinayak; Ortmann, Andreas - 2025

Luckman et al. (2018) experimentally tested the conjecture that a single model of risky intertemporal choice can account for both risky and intertemporal choices, and under the conditions of their experiment, found evidence supporting it. Given the existing literature, that is a remarkable...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015272966

Optimal portfolio analysis using power and natural logarithm utility functions with e-commerce data

Diyanti, Apni; Ansori, Moch. Fandi; Hariyanto, Susilo; … - 2025

Determining the optimal portfolio is important in the investment process because it includes the selection of appropriate fund allocation to manage financial risk effectively. Although risk cannot be entirely eliminated, it is managed through strategic allocation based on investor preferences....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015457497

Beyond present bias: exploring temporal smoothing biases

Drugeon, Jean-Pierre; Wigniolle, Bertrand - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015333208

Properties of Homothetic Robust Epstein-Zin Utility

Kusuda, Koji - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015358362

Stochastic impatience and the separation of time and risk preferences

Dillenberger, David; Gottlieb, Daniel; Ortoleva, Pietro - 2025

We study how the separation of time and risk preferences relates to a property called Stochastic Impatience. We show that, within a broad class of models, Stochastic Impatience holds if and only if risk aversion and the inverse elasticity of intertemporal substitution are sufficiently close. In...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015459574

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