We specify all utility functions on wealth implied by four special conditions on preferences between risky prospects in four theories of utility, under the presumption that preference increases in ...

Surveys of individual's risk-dollar tradeoffs illuminate not only the local tradeoff rates but also can be used to address more fundamental questions about the structure of utility functions. This ...

Hyperbolic Absolute Risk Aversion (HARA) describes a family of utility functions where individuals' tolerance for risk is proportional to their wealth level. HARA utility functions provide a ...