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National Repository of Grey Literature 2 records found  Search took 0.00 seconds. 
Separable Utility Functions in Dynamic Economic Models
 Sladký, Karel
In this note we study properties of utility functions suitable for performance evaluation of dynamic economic models under uncertainty. At first, we summarize basic properties of utility functions, at second we show how exponential utility functions can be employed in dynamic models where not only expectation but also the risk are considered. Special attention is focused on properties of the expected utility and the corresponding certainty equivalents if the stream of obtained rewards is governed by Markov dependence and evaluated by exponential utility functions.
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Application of Game Theory to Analysis Conflict Situations
 DOUBRAVOVÁ, Hana
This text describes basic types of games and their application into conflict situations. This text deals especially with decisions taken under risk and uncertainty. In application study the goods order of retail business is analysed. The task is to determine the optimal amount of goods orders to maximalize the company profit. This problem is solved by several ways, which are compared in conclusion.
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