haku: @author Dardanoni, V. / yhteensä: 2
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| Tekijä: | Dardanoni, V. |
| Otsikko: | Optimal choices under uncertainty: the case of two argument utility functions |
| Lehti: | Economic Journal
1988 : VOL. 98:391, p.429-450 |
| Asiasana: | COMMODITIES MODELS CHOICE THEORY UNCERTAINTY BUDGET DECISION MAKING STOCHASTIC PROCESSES RISK |
| Kieli: | eng |
| Tiivistelmä: | The popularity of the two commodity model for investigation of policy relevant and theoretically interesting economic problems is verified. A unified treatment for the analysis of two argument utility functions with a random budget constraint is presented. Some policy and empirically relevant problems are analyzed using a model under uncertainty. Two well known examples of decision making under uncertainty are considered and comparisons with the unifying framework are made. The case of non-stochastic parameters is discussed. Predictions are derived for additive and multiplicative risks. The relationships between the different contributions are highlighted. |
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