Friedman–Savage utility function
id:
friedman-savage-utility-function-262-2070078
title:
Friedman–Savage utility function
text:
The Friedman–Savage utility function is the utility function postulated in the theory that Milton Friedman and Leonard J. Savage put forth in their 1948 paper. They argued that the curvature of an individual's utility function differs based upon the amount of wealth the individual has. This variably curving utility function would thereby explain why an individual is risk-loving when he has more wealth and risk-averse when he is poorer. The function has been used widely, including in the field of
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wiki
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encyclopedia
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original url:
https://en.wikipedia.org/wiki/Friedman%E2%80%93Savage_utility_function
date created:
date modified:
2020-10-20T04:20:54Z
main entity:
{"identifier":"Q5503704","url":"https://www.wikidata.org/entity/Q5503704"}
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fields total:
13
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13