The aim of this survey is to provide an overview of the main definitions of certainty equivalent and its applications in the one-dimensional and multidimensional framework. We also show the relationships between the concept of certainty equivalent and other definitions related to different fields. In particular, we focus on financial and economic approaches that imply risk or inequality measurement.

Certainty Equivalent: Many Meanings of a Mean

PAGANI, Elisa
2015-01-01

Abstract

The aim of this survey is to provide an overview of the main definitions of certainty equivalent and its applications in the one-dimensional and multidimensional framework. We also show the relationships between the concept of certainty equivalent and other definitions related to different fields. In particular, we focus on financial and economic approaches that imply risk or inequality measurement.
certainty equivalent, risk, inequality, efficiency, willingness to pay
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11562/964115
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