AgEcon Search (University of Minnesota, USA) · 2004 · 20 citations · 6 references
BusinessDecision SciencesEconomicsDecision AnalysisDecision MakingDecision TheoryAlternative RankingDecision Making Under RiskDecision Under RiskRisk AversionUtility FunctionsUtility TheoryEfficiencyEfficiency With Risk AversionPreference Under UncertaintyRisk-averse Decision MakingStochastic Utility FunctionsUtility-based Ranking
Evaluating the risk of a particular decision depends on the risk aversion of the decision maker related to the underlying utility function. The objective of this paper is to use stochastic efficiency with respect to a function (SERF) to compare the ranking of risky alternatives using alternative utility functional forms.
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Rules for Ordering Uncertain Prospects
Josef Hadar, William R. Russell · American Economic Review · 1969 · 1.7K citations
Jack Meyer · Journal of Economic Theory · 1977 · 255 citations