On Utility Function for Money
Jana Klicnarová

Language: en
Last modified: 2017-03-16


It is well-known, that in decision analysis, it is worth to use utility function. It is a way how to make a better decision than in case without application of utility function. In this paper we present a way how to construct a utility function for money and how to use it for solution of St. Petersburg paradox.


St. Petersburg paradox; Utility function for money; Expected profit

Full Text: PDF