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Exact(5)
A class of utility functions that satisfies (11) are the following functions (12).
In addition, the sufficient conditions derived are general enough so that a class of utility functions can be accommodated with this formulation.
We examine a class of utility maximization problems with a non-necessarily law-invariant utility, and with a non-necessarily law-invariant risk measure constraint.
For a given set of such preferences, he generates a class of utility functions, each a positive linear transformation of the other (i.e. of the form U1 = aU2 + b, where a > 0), and a unique probability function.
We remark that the sufficient conditions are general enough that a class of utility functions can be optimized using the technique although our focus is on the information theoretic rates.
Similar(54)
Savage's representation theorem gives strong results: starting with a preference ordering alone, we can find a single probability function, and a narrow class of utility functions, which represent that preference ordering.
In this paper, we first show that any scheduler maximizing a wide class of utility functions can be reduced to a scheduler maximizing the weighted sum rate, where the weights are suitably chosen according to the utility function.
We first have shown that scheduling according to a wide class of utility functions can be reduced to a scheduling problem aiming at maximizing the weighted sum rate of the system, under a proper choice of the weighting function.
Furthermore, we analyze a smaller class of utility functions, compared to the general class analyzed by Maskin.
A single class of utility function with risk-aversion as sole parameter emerges when risk-aversion is regarded as a function of the present wealth, rather than subject to alteration through imagining possible future wealths.
A simple idea is to further restrict the class of utility functions by requiring larger values of for all.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com