It is widely held that under ordinal utility, utility differences are ill-defined. Allegedly, for these to be well … of the traditional binary relations underlying ordinal utility functions. Correlatively, it is also widely held that the … would be, in a nutshell, the hallmark of cardinal utility. While much is obviously true in these two tenets, this note …

utility. Using the fact that networks form a special class of cooperative TU-games, we provide a foundation for the degree … measure as a von Neumann-Morgenstern expected utility function reflecting preferences over being in different positions in … represented by a utility function that is a multiple of the degree centrality measure. We show this in three steps. First, we …

institutional aspects that informed the discussions leading to the definition of the current notion of cardinal utility as utility … unique up to positive linear transformations. As originally this type of utility was not called "cardinal", the paper also …. In opposition to existing narratives, the paper shows that cardinal utility entered economic analysis between 1909 and …

institutional aspects that informed the discussions leading to the definition of the current notion of cardinal utility as utility … unique up to positive linear transformations. As originally this type of utility was not called “cardinal”, the paper also …. In opposition to existing narratives, the paper shows that cardinal utility entered economic analysis between 1909 and …

utility. Using the fact that networks form a special class of cooperative TU-games, we provide a foundation for the degree … measure as a von Neumann-Morgenstern expected utility function reflecting preferences over being in different positions in … represented by a utility function that is a multiple of the degree centrality measure. We show this in three steps. First, we …

In this paper, we apply stochastic maximum principles to derive representations for exponential utility indifference … prices. We also obtain the related optimal portfolio processes and utility indifference hedging strategies. To illustrate our … theoretical results, we present several concrete examples and study the limit behavior of utility indifference prices for …

and convex function, while Morgenstern utility functions (applying to risk averse decision makers) are nondecreasing and … utility function. If we derive the generator itself in this way, dependence properties of an Archimedean copula that are often … taken to be desirable, match with generally sought after properties of the corresponding utility function. If, on the other …

Neumann-Morgenstern expected utility functions using cooperative game theory. The social network literature studies various … measures can be supported as von Neumann-Morgenstern expected utility functions, reflecting preferences over different network … cooperative TU-games to give a utility foundation of a class of TU-game solutions containing the Shapley value. …

This paper presents an extension of the Capital Assets Pricing Model (hereafter CAPM) where various utility functions … investor preferences and attitudes toward risk. We particularly develop CAPM betas for different classes of utility function …: the negative exponential utility function, power utility function or “Constant Relative Risk Aversion (CRRA) Utilities …