Maynooth University

Maynooth University ePrints and eTheses Archive

Maynooth University Library

Generalised Means of Simple Utility Functions with Risk Aversion

Conniffe, Prof. Denis (2007) Generalised Means of Simple Utility Functions with Risk Aversion. UNSPECIFIED. (Unpublished)

[img] Download (169kB)

Abstract

The paper examines the properties of a generalised mean of simple utilities each displaying risk aversion, that is, with first derivative positive and second derivative negative. It proves the mean is itself a valid utility function with the appropriate signs for derivatives and investigates risk aversion properties. It shows that simple component utilities, each of which may have quite restricted risk aversion properties, can be parsimoniously combined through the generalised mean formula to give a much more versatile utility function.

Item Type: Other
Subjects: Social Sciences > Economics, Finance & Accounting
Item ID: 705
Depositing User: Ms Sandra Doherty
Date Deposited: 17 Sep 2007
Refereed: No
URI:

Repository Staff Only(login required)

View Item Item control page

Document Downloads

More statistics for this item...