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SUMMARY:Monetary utility functions with convex level sets
DTSTART:20141022T120000
DTEND:20141022T130000
DTSTAMP:20260507T153132Z
UID:840d916b66cad97214bbcde9d9d589ed7adc10b9057893451b6873d5
CATEGORIES:Conferences - Seminars
DESCRIPTION:Freddy DELBAEN (ETH Zurich)\nMonetary utility functions are --
  except for the expected value -- not of von Neumann-Morgenstern type.  I
 n case the utility function has convex level sets in the set of probabilit
 y measures on the real line\, we can give some characterisation that comes
  close to the vN-M form. Having convex level sets can be seen as a weakene
 d form of the independence axiom in the vN-M theorem. For coherent utility
  functions the representation problem was solved by Ziegel. The general co
 ncave case is\nmore difficult. With some extra weak compactness property\,
  Stephan Weber could give a characterisation related to a vN-M representat
 ion. Refining his results\,  we can completely characterise this class of
  utility functions. This is joint work with Bignozzi\, Bellini and Ziegel.
LOCATION:UNIL\, Extranef\, room 118 https://planete.unil.ch/plan/?local=EX
 T-118.1
STATUS:CONFIRMED
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