Sentence examples for utility function can be from inspiring English sources

Here, following Dybvig, we show how attributes of a user's utility function can be inferred from the distribution chosen.

The von Neumann Morgenstern utility function can be used to explain risk-averse, risk-neutral, and risk-loving behaviour.

Section 3 shows how attributes of a user's utility function can be inferred from his or her choice of distribution, given the underlying Arrow-Debreu prices.

Furthermore, we prove that if the parameters in the generalized utility function can be specified carefully, the strategic game could well match a potential game and be able to converge to a pure Nash equilibrium.

The method of defining the utility function can be briefly described as follows: the decision maker (for example, a contract engineer, building site manager) is faced with a choice between a certitude of a given result (a monetary value), and a lottery was to extreme results.

This utility function can be expressed as Eqs.

While that function will vary from person to person, individual utility functions can be pooled into a single collective function for an entire population.

An in-depth familiarity with neoclassical models allows researchers to modify them to allow for innovations in economic research.For example, traditional neoclassical utility functions can be modified to include untraditional elements, resulting in behaviour that would otherwise seem irrational.

Therefore, different utility functions can be used to model the same preferences.

In the state-of-the-art literature, various proposals of utility functions can be found.

We also generalize the framework so that a broader choice of utility functions can be applied.