expected logarithmic utility from terminal wealth. While the ordinary investor's portfolio decisions are based on a public … expected logarithmic utility in terms of a relative entropy. This allows us to provide simple conditions on G for the … finiteness of this additional utility and to show that it is basically given by the entropy of G. -- insider trading ; entropy …

we focus on are the calculation of the additional utility of the insider and a study of his free lunch possibilities. The … examples are given to illustrate additional utility and free lunch possibilities. In particular, if the insider has advance …

.’s investment game by introducing an upper bound to what a contributor can be repaid afterwards. By varying this upper bound …

evidence suggests that the high social returns to investment in equipment (as opposed to structure) reflect technology transfer …

The utility maximization problem of "ratchet investors" who do not tolerate any decline in their consumption rate is …–additive investor would choose. -- Intertemporal Consumption Choice ; Habit Formation ; Non-Time Separable Utility …

contracting is infeasible. One example is the study by Berg et al. (1995) of the investment game. In this game the person who … receives the investment is the one who may reward the investor. This is a direct reward game. Similar to Dufwenberg et al … investor may only be rewarded by a third person who did not receive his investment. Furthermore we investigate the influence of …

commodities as food items. Using utility functions we can measure the welfare loss, caused by such heuristics, and to what extent …-Douglas utility function. General utility functions will also be considered. Part II will study exchange economies. …