power utility function造句

• Note that the log utility function, unlike the power utility function, did not require the assumption of intertemporal independence of returns to obtain intertemporal independence of portfolio decisions.
• Hyperbolic absolute risk aversion ( HARA ) is a feature of a broad class of von Neumann-Morgenstern utility functions for choice under risk, including the log and power utility functions dealt with above.
• If investors have hyperbolic absolute risk aversion ( HARA ) ( including the power utility function, logarithmic function and the exponential utility function ), separation theorems can be obtained without the use of mean-variance analysis.
• Like the log utility function, the power utility function for any value of the power parameter exhibits constant relative risk aversion, a property that tends to cause decisions to scale up proportionately without change as initial wealth increases.