The Utility of Wealth

Markowitz, H. (1952). The Utility of Wealth. Journal of Political Economy, 60(2), 151-158.

Type

Journal article

Intellectual base

Primary research

Year

1952

Volume

60

Issue

2

Pages

151-158

DOI

10.1086/257177

DOI registrant

University of Chicago Press

Link

https://doi.org/10.1086/257177

Cited from

economics_finance

Cited by

2 citations across 2 artifacts.

Each citation links to the sentence it supports in the citing article.

Primes

• Risk Aversion
  • and Markowitz's 1952 utility model

    This sourceProposes a reference-point-dependent, triply-inflected utility-of-wealth function (utility defined over changes from current wealth) to repair Friedman–Savage anomalies — an early reference-dependent alternative to uniform concavity.

Domain-specific

• Friedman–Savage utility function
  • … variable and utility normalization, locations and signs of curvature, lotteries or insurance contracts, initial wealth, expected-utility calculation and behavioral prediction are explicit. to An applied instance preserves the same invariant under changed scale, notation, dataset, jurisdiction, or implementation..

Verification

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Registry ID ref:9e1d53510a41 · see in the full table