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Solution to a Functional Equation Arising from Different Ways of Measuring Utility

✍ Scribed by János Aczél; Gyula Maksa; Zsolt Páles


Publisher
Elsevier Science
Year
1999
Tongue
English
Weight
68 KB
Volume
233
Category
Article
ISSN
0022-247X

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📜 SIMILAR VOLUMES


Solutions to Three Functional Equations
✍ János Aczél; R.Duncan Luce; Gyula Maksa 📂 Article 📅 1996 🏛 Elsevier Science 🌐 English ⚖ 216 KB

Utility of gains losses can be measured in four distinct ways: riskless vs risky Ž . choices and gains losses alone vs the gain-loss trade-off. Conditions forcing these measures all to be the same lead to functional equations, three of which are y1 w x y 1 w x