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Mathematical Analysis and Applications II

Optimal Saving by Expected Utility Operators

Academy of Economic Studies, Department of Economic Cybernetics, Piaţa Romana No 6 R 70167, Oficiul Postal 22, 010552 Bucharest, Romania
Department of Information Systems, Åbo Akademi University, Tuomiokirkkotori 3, 20500 Turku, Finland
Author to whom correspondence should be addressed.
Axioms 2020, 9(1), 17;
Received: 5 December 2019 / Revised: 22 January 2020 / Accepted: 28 January 2020 / Published: 9 February 2020
(This article belongs to the Special Issue Soft Computing in Economics, Finance and Management)
This paper studies an optimal saving model in which risk is represented by a fuzzy number and the total utility function of the model is defined by an expected utility operator. This model generalizes some existing possibilistic saving models and from them, by a particularization, one can obtain new saving models. In the paper, sufficient conditions are set for the presence of potential risk to increase optimal saving levels and an approximation formula for optimal saving is demonstrated. Particular models for a few concrete expected utility operators are analyzed for triangular fuzzy numbers and CRRA-utility functions. View Full-Text
Keywords: expected utility operator; possibilistic saving models; precautionary saving expected utility operator; possibilistic saving models; precautionary saving
MDPI and ACS Style

Georgescu, I.; Kinnunen, J. Optimal Saving by Expected Utility Operators. Axioms 2020, 9, 17.

AMA Style

Georgescu I, Kinnunen J. Optimal Saving by Expected Utility Operators. Axioms. 2020; 9(1):17.

Chicago/Turabian Style

Georgescu, Irina, and Jani Kinnunen. 2020. "Optimal Saving by Expected Utility Operators" Axioms 9, no. 1: 17.

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