15 relations: Concave function, Convex function, Derivative, Economics, Expected utility hypothesis, Expected value, Finance, Investment, Mean-preserving spread, Preference (economics), Probability distribution, Prospect theory, Risk, Risk aversion, Risk neutral preferences.
Concave function
In mathematics, a concave function is the negative of a convex function.
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Convex function
In mathematics, a real-valued function defined on an ''n''-dimensional interval is called convex (or convex downward or concave upward) if the line segment between any two points on the graph of the function lies above or on the graph, in a Euclidean space (or more generally a vector space) of at least two dimensions.
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Derivative
The derivative of a function of a real variable measures the sensitivity to change of the function value (output value) with respect to a change in its argument (input value).
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Economics
Economics is the social science that studies the production, distribution, and consumption of goods and services.
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Expected utility hypothesis
In economics, game theory, and decision theory the expected utility hypothesis, concerning people's preferences with regard to choices that have uncertain outcomes (gambles), states that if specific axioms are satisfied, the subjective value associated with an individual's gamble is the statistical expectation of that individual's valuations of the outcomes of that gamble.
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Expected value
In probability theory, the expected value of a random variable, intuitively, is the long-run average value of repetitions of the experiment it represents.
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Finance
Finance is a field that is concerned with the allocation (investment) of assets and liabilities (known as elements of the balance statement) over space and time, often under conditions of risk or uncertainty.
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Investment
In general, to invest is to allocate money (or sometimes another resource, such as time) in the expectation of some benefit in the future – for example, investment in durable goods, in real estate by the service industry, in factories for manufacturing, in product development, and in research and development.
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Mean-preserving spread
In probability and statistics, a mean-preserving spread (MPS) is a change from one probability distribution A to another probability distribution B, where B is formed by spreading out one or more portions of A's probability density function or probability mass function while leaving the mean (the expected value) unchanged.
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Preference (economics)
In economics and other social sciences, preference is the ordering of alternatives based on their relative utility, a process which results in an optimal "choice" (whether real or theoretical).
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Probability distribution
In probability theory and statistics, a probability distribution is a mathematical function that provides the probabilities of occurrence of different possible outcomes in an experiment.
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Prospect theory
Prospect theory is a behavioral economic theory that describes the way people choose between probabilistic alternatives that involve risk, where the probabilities of outcomes are known (.
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Risk
Risk is the potential of gaining or losing something of value.
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Risk aversion
In economics and finance, risk aversion is the behavior of humans (especially consumers and investors), when exposed to uncertainty, in attempting to lower that uncertainty.
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Risk neutral preferences
In economics and finance, risk neutral preferences are preferences that are neither risk averse nor risk seeking.
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Risk Seeking, Risk loving, Risk seeking, Risk-loving.