haku: @indexterm UTILITY THEORY / yhteensä: 246
viite: 104 / 246
| Tekijä: | Bordeley, R. F. |
| Otsikko: | An additive group utility for a fund manager. |
| Lehti: | Management Science
1988 : JUL, VOL. 34:7, p. 836-842 |
| Asiasana: | GROUP DECISION MAKING PORTFOLIO MANAGEMENT UTILITY THEORY |
| Kieli: | eng |
| Tiivistelmä: | The additive utility formula developed by Harsanyi specifies how a rational ethical individual acting on behalf of other people ought to behave. The Harsanyi paradigm is transplanted to a new context: that of fund management. Added are three further axioms to the Harsanyi argument and deduced the weighted group utility formula with each individual's weight equal to the inverse of the marginal utility of his investment in the fund. These weights make this formula invariant to arbitrary utility transformations which eliminates the problem of interpersonal comparisons of utility. |
SCIMA