In economics, the utility function measures the welfare or satisfaction of a consumer as a function of the consumption of real goods, such as food or clothing. Utility function is widely used in ...

This paper concerns utility functions for more than one attribute. A new type of risk aversion found only in multivariate utility functions is defined. Certain behavioral assumptions, which are ...

Certainty equivalence (CE) and probability equivalence (PE) methods are the two most frequently used procedures for constructing von Neumann-Morgenstern utility functions. In this paper, we compare ...