金融经济学第3章
摘要:第3章不确定下的选择理论:期望效用函数【Definition】Anindividual’spreferenceshaveanexpectedutilityrepresentationifthereexistsafunctionsuchthatrandomconsumption~xispreferredtorandomconsumption~yifandonlyifuE[u(~x)]E[u(~y)]whereE()istheexpectationundertheindividual’sprobabilitybelief.23.1ExpectedUtilityFunctionSupposethat:①Therearetwodates,time0andtime1;②Thereisasingleconsumptiongoodavailable,③Individualconsumeonlyattime1.④Uncertaintyintheeconomyismodeledbyuncertainstatesofnaturetoberealizedattime1.:thecollectionofallthepossiblestatesofnature,:anelementof.3【Definition3.1】Anconsumptionplanisaspecificationofthenumberofunitsofthesingleconsumptiongoodindifferentstatesofnature.x:x:stateofaconsumpti
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