'Utility function' presentation slideshows

2.14k views • 199 slides

Cognitive Economics

Cognitive Economics. Definition: Taking seriously data other than actual choices in the wild. Must be linked back to actual choices in the wild. Analogous to Cognitive Psychology vs. B.F. Skinner.

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Wind-Aware Trajectory Planning for Fixed-Wing Aircraft in Loss of Thrust Emergencies

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Chapter 9: Factor pricing models

Chapter 9: Factor pricing models. Contents. Introduction CAPM ICAPM Comments on the CAPM and ICAPM APT APT vs. ICAPM. Brief introduction. Brief introduction.

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Chp.4 Lifetime Portfolio Selection Under Uncertainty

Chp.4 Lifetime Portfolio Selection Under Uncertainty. Hai Lin Department of Finance, Xiamen University,361005. 1.Introduction. Examine the combined problem of optimal portfolio selection and consumption rules for individual in a continuous time model.

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Chp 1: Consumption-based model and overview

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Game Playing

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ECN741: Urban Economics

ECN741: Urban Economics. More General Treatment of Housing Demand. Professor John Yinger, The Maxwell School, Syracuse University, 2019. Housing Demand Theory. Class Outline 1. Alternative Utility Functions 2. An Exponential Density Function? 3. The Envelope Theorem

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Portfolio Theory

Portfolio Theory. Chapter 5 Risk aversion Utility function and indifference curves The capital allocation decision Portfolio of one risk-free asset and one risky asset Extension to the case of two risky assets. p = 0.6. W 1 = 150; Profit = 50. 1-p = 0.4. W 2 = 80; Profit = -20.

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The Game Show Problem. You are on a game show, given the choice of 3 doors. Behind one is ... Note: The proof shows that the preference probability (and its linear ...

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Part IIA, Paper 1 Consumer and Producer Theory

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L05

L05. Choice. Problem:. We know preferences (utility function) and We want to know optimal choice. Choice. $. $. $. $. $. $. $. $. $. $. Choice: geometric solution. x 2. x 1. Abstract approach. In the example we were given we found demands - two numbers

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Utility

Utility. The MRS is the slope of the indifference curve at a point MRS=derivative of indifference curve. Marginal Rate of Substitution. Interpretation of MRS. The MRS measures the rate at which the consumer is willing (i.e., indifferent) to substitute one good for the other.

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September 2009, NYC Jingjing Chai, Wolfram J. Horneff, Raimond H. Maurer, Olivia S. Mitchell

Extending Life Cycle Models of Optimal Portfolio Choice : Integrating Flexible Work, Endogenous Retirement, and Investment Decisions with Lifetime Payouts. September 2009, NYC Jingjing Chai, Wolfram J. Horneff, Raimond H. Maurer, Olivia S. Mitchell.

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Kahnemann and Tversky Prospect Theory

Kahnemann and Tversky Prospect Theory. Economics 328 Spring 2005. Basic Definitions.

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Modeling risk attitudes

Modeling risk attitudes. Objective: Develop tools to compare alternative courses of action with uncertain outcomes (lotteries or deals). (0.5). $30. A. (0.5). -$15. (0.5). $100. B. (0.5). -$40. Expected monetary value (EMV) is not a good measure of the value of a deal.

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Scheduling with uncertain resources: Representation and utility function

RADAR. Reflective Agent with Distributed Adaptive Reasoning. Scheduling with uncertain resources: Representation and utility function. Ulas Bardak, Eugene Fink, and Jaime Carbonell. Help not only in routine situations.

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Search applied to a problem against an adversary some actions are not under the control of the problem-solver there is a

Game playing. Search applied to a problem against an adversary some actions are not under the control of the problem-solver there is an opponent (hostile agent) Since it is a search problem, we must specify states & operations/actions

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Axioms of Rational Choice

Axioms of Rational Choice. Completeness If A and B are any two situations, an individual can always specify exactly one of these possibilities: A is preferred to B B is preferred to A A and B are equally attractive. Axioms of Rational Choice. Transitivity

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7 slides about utility theory

480 views • 7 slides