Generalised means of simple utility functions with risk aversion 
Conniffe, Denis



The paper examines the properties of a generalised mean of simple utilities each
displaying risk aversion, that is, with first derivative positive and second derivative negative. It shows the mean is itself a valid utility function and argues that simple component utilities, each of which may have quite restricted risk aversion properties, can be parsimoniously combined through the generalised mean formula to give a much more versatile utility function.

Keyword(s):

Risk aversion; Utility function; Quantitative economics 
Publication Date:

2008 
Type:

Conference item 
PeerReviewed:

Unknown 
Language(s):

English 
Institution:

Trinity College Dublin 
Citation(s):

Conniffe, Denis. 'Generalised means of simple utility functions with risk aversion'.  Economic & Social Review, Vol. 39, No. 1, Spring, 2008, pp. 1?12, Dublin: Economic & Social Research Institute 
Publisher(s):

Economic & Social Studies 
First Indexed:
20140513 05:29:55 Last Updated:
20180812 06:15:56 