First Order Certainty Equivalence

DOI10.2307/1910445zbMATH Open0184.45104OpenAlexW2104772589MaRDI QIDQ5576702FDOQ5576702

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

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zbMATH Keywords

optimal decisiondynamic problemapproximate propertyclassical certainty equivalence theorem

Mathematics Subject Classification ID

Decision theory (91B06)

Cited In (13)

• Certainty-Equivalence and the Theory of the Firm under Uncertainty
• Title not available (Why is that?)
• Stationary sunspot equilibria in an N commodity world
• Stochastic growth with irreversible investment
• The stochastic interdependence of dynamic risk-sensitive decision rules
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• Constructing a monotonic quadratic objective function in \(n\) variables from a few two-dimensional indifferences.
• The First-Order Nominal Link
• Constructing a quasi-concave quadratic objective function from interviewing a decision maker
• Risk matters: breaking certainty equivalence in linear approximations
• Certainty equivalence in expected profit maximization implies impossibility of loss
• Irreversibility and the behavior of aggregate stochastic growth models
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