concave utility functions and is of importance particularly for applications of prospect theory where the utility function has …We prove a formula for the computation of optimal financial investments in an expected utility framework with arbitrary … (not necessarily concave) utility functions. This extends classical results on optimal financial investments for strictly …

Utility functions offer a means to encode objectives and preferences in investor portfolios. The functions allow one to … place a score on outcomes and then identify optimal portfolios by maximizing utility. The central theme of this article is … that utility functions should be tailored to the investor. I discuss how an appropriate function might be chosen and …

In this article, we analyze the utility function, the different indifference curves, currency portfolio management and …