In cases where the utility function is increasing with upper and lower bounds then the utility function can be characterized by a distribution function, and we can take advantage of the various ...

Hyperbolic Absolute Risk Aversion (HARA) describes a family of utility functions where individuals' tolerance for risk is proportional to their wealth level. HARA utility functions provide a ...

Moreover, it may be difficult to determine exactly what those stakes are (and perhaps to obtain accurate information about the expert's utility function). This creates somewhat of a dilemma for ...