First Order Certainty Equivalence

DOI10.2307/1910445MaRDI QIDQ5576702zbMATH OpenOpenAlexFDO

Authors Edmond Malinvaud

Publication date 1969

Published in Econometrica (Search for Journal in Brave)

Full work available at URL https://doi.org/10.2307/1910445

zbMATH Keywords

approximate propertyclassical certainty equivalence theoremdynamic problemoptimal decision

Mathematics Subject Classification ID

Decision theory (91B06)

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(14)

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• CERTAINTY EQUIVALENCE AND LOGARITHMIC UTILITIES IN CONSUMPTION/INVESTMENT PROBLEMS
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• Certainty equivalence in expected profit maximization implies impossibility of loss
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