Local Utility Functions and Local Probability Transformations.

This note shows that, under appropriate conditions, preferences may be locally approximated by the linear utility or risk-neutral preference functional associated with a local probability transformation. Copyright 2003 by Kluwer Academic Publishers

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Year of publication:	2003
Authors:	Quiggin, John ; Chambers, Robert G
Published in:	Journal of Risk and Uncertainty. - Springer. - Vol. 27.2003, 2, p. 111-20
Publisher:	Springer

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005542762