Friedman-Savage Utility Function
GPTKB entity
Statements (54)
| Predicate | Object |
|---|---|
| gptkbp:instance_of |
gptkb:Mathematics
|
| gptkbp:applies_to |
economics
|
| gptkbp:can_explain |
certain gambling behaviors
|
| gptkbp:depicts |
non-linear utility
|
| gptkbp:describes |
risk preferences
|
| gptkbp:developed_by |
gptkb:L._J._Savage
gptkb:Milton_Friedman |
| https://www.w3.org/2000/01/rdf-schema#label |
Friedman-Savage Utility Function
|
| gptkbp:illustrated_by |
utility curves
|
| gptkbp:is_analyzed_in |
market strategies
risk management studies lottery choices willingness to pay |
| gptkbp:is_applied_in |
financial decision making
|
| gptkbp:is_associated_with |
indifference curves
|
| gptkbp:is_based_on |
utility maximization
|
| gptkbp:is_challenged_by |
alternative theories
|
| gptkbp:is_connected_to |
economic behavior modeling
|
| gptkbp:is_considered |
a foundational concept in economics
a significant contribution to economics a benchmark in utility theory a model of mixed risk preferences a tool for understanding consumer choice |
| gptkbp:is_criticized_for |
assumptions of rationality
|
| gptkbp:is_critiqued_by |
complexity
|
| gptkbp:is_described_as |
investment behavior
Friedman and Savage's 1948 paper |
| gptkbp:is_discussed_in |
academic courses
economic theory debates |
| gptkbp:is_examined_in |
behavioral finance
economic research papers |
| gptkbp:is_explored_in |
economic literature
decision-making frameworks |
| gptkbp:is_graphically_represented_by |
concave and convex segments
|
| gptkbp:is_influenced_by |
psychological factors
historical economic thought |
| gptkbp:is_influential_in |
gptkb:economic_analysis
|
| gptkbp:is_part_of |
utility theory
economic modeling techniques economic theory curriculum |
| gptkbp:is_reflected_in |
real-world decision making
|
| gptkbp:is_related_to |
prospect theory
risk aversion expected utility theory consumer behavior analysis utility maximization under uncertainty |
| gptkbp:is_tested_for |
empirical studies
|
| gptkbp:is_used_in |
decision theory
|
| gptkbp:is_utilized_in |
market analysis
policy analysis |
| gptkbp:model |
preferences over wealth
|
| gptkbp:symbolizes |
individual behavior under uncertainty
|
| gptkbp:bfsParent |
gptkb:Milton_Friedman
|
| gptkbp:bfsLayer |
4
|