Abstract

This work covers a substantial mosaic of related concepts in utility theory as applied to financial decision-making. It reviews some of the classical notions of Benthamite utility and the normative utility paradigm offered by the von Neumann-Morgenstern expected utility theory; exploring its major pitfalls before moving into what is postulated as an entropic notion of utility.

Year Manuscript Completed

2004

Subject Category

Economics, Finance (0508)

Keywords

Individual investors, Utility theory, Mathematical models, Financial institutions investments management

Primary Language of Manuscript

EN

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