The pricing function has organically evolved to take advantage of the marginal utility of money.

When considering utility, it is important to understand the concepts of total utility and marginal utility. Marginal utility measures the satisfaction or benefits a person gets from consuming an ...

The present work takes place in the framework of a non-expected utility model under risk: the RDEU theory (Rank Dependent Expected Utility, first initiated by Quiggin under the denomination of ...

The measure of moral hazard in terms of insurance coverage is a function of two factors: 1) the undesirability to the individual of the accident or illness and 2) the dependence of the marginal ...