This paper aims to provide a method for calculating the utility function and discount rate of the discrete-time Ramsey … utility function up to positive affine transformations. Further, we provide a similar result in a stochastic model. …

Microeconomic Foundations I develops the choice, price, and general equilibrium theory topics typically found in first …-year theory sequences, but in deeper and more complete mathematical form than most standard texts provide. The objective is to …

Microeconomic Foundations I develops the choice, price, and general equilibrium theory topics typically found in first …-year theory sequences, but in deeper and more complete mathematical form than most standard texts provide. The objective is to …

disaster response operations. We formulate the humanitarian principles as three objective functions, i.e., lifesaving utility …

Much progress has been made in recent years on developing and applying a direct measure of utility using survey … the study of interdependent utility in general, and altruism between parents and children in particular. We introduce an …

We evaluate how deviations from normality may affect the allocation of assets. A Taylor expansion of expected utility …

The constant-relative-risk-aversion (CRRA) utility function is now predominantly used in quantitative macroeconomic … programming. This paper devises a method for "bounding" the CRRA utility functions. The proposed method is based on a set of … conditions that can establish boundedness among a broad class of utility functions. These results are then used to construct a …