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

Keywords

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

Primary Language of Manuscript

EN

01Front.pdf (173 kB)

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