|
Implicit Mean Value and Certainty Equivalence
Peter C. Fishburn
Abstract
This paper considers a generalized mean value m (p) defined implicitly for a probability measure p on the reals as the unique y for which @?(x,y) dp (x) = ? where @? is skew-symmetric and strictly increasing in its first argument. Conditions on m that are necessary and sufficient for the implicit characterization are given and its relationship to certainty equivalence is discussed.
|
