MULTI-DIFFERENT BENEFIT FUNCTION AND ERROW-PRATT DIMENSION
Abstract
In this article, the study of utility functions in the economic study of human behavior is explored using geometric methods. The utility function is an analogue of the mathematical expectation in mathematical statistics, and finding its explicit form is a difficult problem. Based on the Arrow-Pratt coefficient, we determine some of the geometric properties of the utility function. Economic processes cannot be described by a single utility function. The authors present various utility functions in the form of a mathematical model according to economic conditions such as industrial development.
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