Through this, microeconomists derive some minor conclusions, such as the existence of optimal sets given budget constraints, and some major conclusions, including that marginal utility can be ...

The authors argue that to have effective constraints one can introduce a risk limit based on a second, but concave, utility function In this article, we aim to analyse how classic risk measures such ...

They provide three contributions. First, they provide an explicit connection between the form of the utility function and the graphical presentation of the indifference curves, budget constraints, and ...

The Budget constraint, redefined in terms of full income, appears as an argument in the wealth constraint, which in turn provides a way of introducing real money balances in the short run utility ...